Since the national lockdowns ravaged our nation’s economy, jobs, and much more, America is still largely in the process of recovery.
Last month, the United States experienced a jobs surge to the tune of 1.8 million. While this is good news for many Americans who got back to work and found new jobs, it still marks a decline from job creation in May and June.
As various sectors and businesses have gradually resumed operations, employment opportunities have presented themselves. However, economic researchers are predicting that the employment growth is likely to drop, rather than surge, in the months to come.
There are a series of factors that have contributed to this prediction, as documented by Washington Examiner.
Why Won’t Employment Growth Continue to Increase?
One of the main situations stopping the full return of employment gains is areas in the nation that are shutting down again. Amid reports of rising coronavirus cases, certain mayors and governors have chosen to roll back reopening plans.
In many cases, this takes place in the form of ordering businesses to go back on lockdown. Establishments that are able to remain open often have to contend with mandates to operate at reduced capacities. This, in turn, leads to less of a demand for workers, fewer customers, and diminished economic stimulation.
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— SBA (@SBAgov) August 7, 2020
Most job gains that America has experienced in recent months have taken place in bars and restaurants. Unfortunately, these establishments are likelier to face shutdown orders or edicts limiting the percentage of customers they can serve at once.
Economic specialists maintain that job gains have already started to slow; this is believed to be a trend that will largely indicate the nearby future to come for employment in America.
The Future of Businesses in America
Due to the predicted, future job loss, economic researchers are claiming that more establishments are likely to permanently shut down. This, in turn, will negatively impact individuals who are currently employed by these places of business.
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— SBA (@SBAgov) August 5, 2020
The projections for jobs in the United States are concerning to many people. This is why some Americans are vocal about the need to reopen the nation and get people back to work. Some conservatives also believe that the left is intentionally pushing for shutdowns in order to hurt President Trump’s chances of winning re-election.
What do you think about the predictions for job growth in America? Share your thoughts with us in the comments section below!