According to Johns Hopkins University, more than 440,000 people around the world have recovered from coronavirus. Of those over 440,000 recoveries are more than 41,000 Americans who have beaten COVID-19.
While coronavirus has a recovery rate surpassing 90%, economic turmoil, recessions, and depressions do not. This is why there are mounting calls to reopen the economy.
Just last week, Ohio residents took to the streets in protest, demanding their governor to lift compulsory lockdowns. Likewise, a petition to impeach Michigan Governor Gretchen Whitmer over her authoritarian response to COVID-19 has garnered more than 156,000 signatures.
Now, new updates from Fox Business confirm that many workers furloughed due to COVID-19 are getting their last paychecks for the indefinite future. This is yet another shining example of why our nation must get back to work.
The Last of Paychecks for the Indefinite Future
As a result of shutdowns across the nation, countless businesses, both big and small, have suffered. This suffering inevitably trickles down to employees who are either mandated to stay home by the government or laid off because businesses can’t afford to pay them.
For a while, some furloughed employees still received checks from their jobs. However, for workers employed by companies like Dick’s Sporting Goods and TJX Companies Inc., the paychecks are coming to a halt.
Due to a lack of revenue, business, and funding, these major outlets simply can’t afford to pay their workers. Additional companies that have furloughed their employees include Disney, Under Armour, Caesar’s Entertainment, and Universal Studios.
The Implications for the U.S. Economy
Having massive amounts of individuals without paychecks will only increase the numbers of unemployment and individuals seeking unemployment benefits. Furthermore, government’s available unemployment aid will quickly dry up with massive amounts of people not working or contributing to monetary velocity. Over the course of three weeks, nearly 17 million Americans lost their jobs; remember, this has taken place only during the beginning of mass shutdowns.
It is time for the American people to return to work. COVID-19 recoveries, by far, outweigh COVID-19 deaths and, contrary to certain beliefs, there are worse threats than coronavirus. Extreme economic decline does not come with a recovery rate of over 90%, unlike this virus.
When massive amounts of people are without work, pay, hope, and the ability to support themselves, this equals bad news. Economic decline of this nature will undoubtedly prompt crime increases, more cases of suicides and depression, along with mental and physical health issues.
The cure cannot be worse than the problem. Any present issues existing because of coronavirus will be amplified if America falls into a recession or another Great Depression.