According to numbers released by the Department of Labor on Friday, the American economy is starting to improve with many businesses reopening and employees able to get back to work and receive their full paycheck. It was released, that during the last two weeks of May, the Unemployment rate hovered around 13.2%. In April 2020, the unemployment rate was approximately 14%.
This statistic marks the first time the unemployment rate has declined since the World Health Organization declared COVID – 19 to be a pandemic. This deadly disease has the ability to spread from person to person transmission. It spreads when one’s respiratory droplets get near another person. Respiratory droplets have the ability to spread through coughing, sneezing, and talking.
COVID – 19 lasts a long time in the air – up to 3 hours. In addition, COVID – 19 can last on surfaces undetected for days. According to the National Institute of Health, COVID – 19 particles can last for up to 24 hours on cardboard and 3 days on stainless steel. Exposure to one person could allow the disease to spread to other people rapidly. Out of a precaution of this, the Government ordered a National stay at home order and recommended 6 feet of distancing between people if one had to leave their home.
This forced factories and other workplaces where workers maintain close proximity to others to close. With no work came a lack of profits. Employers were then forced to layoff workers and avoid bankruptcy. Yelp fired 1,000 people and furloughed another 1,100 due to this situation. Massive layoffs have forced people to rely on foodbanks from nonprofit charities and unemployment help from the National Government. For the last 10 weeks, there has been a positive change in the number of participants who are part of the unemployment program.
Now, COVID – 19 is still spreading, but employers are reopening their doors to workers to resume production. Adequate safety protections are being taken such as forcing workers to wear masks and gloves if they come in close proximity with one another. Production is now safe to resume, and employees are back on employer payrolls. This is a positive sign for the economy as America can now return to the consumer society they are used to – with products being produced once again.
After this announcement on Friday, the Dow Jones Industrial jumped up 829 points. The total value of the Dow Jones is now $27,110.98. The last time the Dow Jones was over 27,000 was March 4th, 2020 – the time before a Pandemic was declared. The pandemic is not over, but workers are making a come back showing a positive sign for the economy.