Millions of American Jobs at Risk Due to Coronavirus
To prevent the spread of the coronavirus, people are urged to not leave their homes unless it is absolutely necessary. This is not a major issue for many Americans, because they have the ability to work from home. Those in the service industry cannot say the same. The virus is hitting small businesses such as food vendors, salons, and restaurants especially hard, and they have seen a sudden plunge in business. These people provide services for people that a lot of people can’t afford during a time like this. If these businesses close, it is likely they will not be able to open even when the crisis is over. It is not only the business owners that are affected, but their employees as well. Although they are suggested not to go out, they do not have a choice. They rely on their jobs to give them the money to provide for themselves as well as their family. It is truly a scary time for small businesses, and the families that own them, even those outside of America. It is seen as a global slowdown and economists believe that the odds of a global recession are one hundred percent.
1. Should the government be doing more than offering loans to businesses?
2. Can the recession due to lack of jobs be further prevented?
Source: https://www.cnn.com/2020/03/16/economy/job-losses-coronavirus/index.html
The government should be doing more than offering loans to businesses because we don't know when the outbreak will slow down and businesses can't keep on receiving loans. It is important to do whatever it takes to keep businesses intact because the bankruptcy in one business can cause the bankruptcy in another and can cause the domino effect, ultimately affecting the economy itself. But it is hard to prevent the recession due to lack of jobs because we don't want the outbreak to further worsen. But there are ways to slow down the recession. For example, people can work from home or take all safety precautions and wear a mask and still go to work.
ReplyDeleteI believe that the government should be doing more than offering loans to these businesses. COVID-19 is a global pandemic that is affecting everyone around the world, so everyone has to work together to fight it. It is much safer for everyone to stay at home, so the government should be doing more to make it possible for people to stay at home without any negative consequences. For these businesses that are struggling, the government needs to help them through this tough time because it is not their fault that they are doing poorly, COVID-19 is the only thing to blame.
ReplyDelete-Danielle Sipes
DeleteI agree. The government shouldn't be punishing small businesses for something that they could not control. Giving them support is important not only for the well being of the people, but also for the economy when the epidemic is over.
DeleteThe government should do more than give loans to companies due to the fact that we don't know when the epidemic will slow down and businesses won't be able to continue collecting loans. The government should do more to encourage people to stay at home with no negative consequences and support struggling businesses in this crisis. If there is a way to create opportunities for people to continue doing business with companies safely then there will no longer be a need to issue loans.
ReplyDeleteI think giving loans to company's is not enough. The government should be doing a lot more for the people put out of work. Some of these people live paycheck to paycheck and it is very hard for them to support their families without this money.
ReplyDeleteI don't think giving loans to company's are enough. They should be providing support in other area's such as insurance and encourage workers to stay home during this global health crisis. It is better if workers stay home and healthy rather than going to work and risking contracting the virus and furthermore extending the spread of the virus.
ReplyDeleteThe government should be doing more instead of just offering loans to the small businesses. People are still going outside every day, so the government should be enforcing way harsher laws. The fact that hundreds of people are dying each day, and employees of small businesses are struggling to have financial stability in their personal lives all depends on stopping the spread of the virus. The only way for this to be stopped is for people to stop going outside completely (unless an emergency occurs or resources are needed). The government should be stricter with their mandates and enforcement.
ReplyDeleteThe government should be doing more than offering loans to businesses even though some people can work from home and it seems more convenient but there are many people who are unemployed due to businesses shutting down and are unable to pay their bills or support their family. The lack of jobs can also lead to lack of certain insurances that help many families in these times of struggle when it would benefit them. The recession due to lack of jobs can be further prevented if the government pays out more food stamps when unemployment is high, Automatically cut payroll tax rates, and supply Government-created jobs when unemployment rises.
ReplyDeleteI think that the government should be doing more than offering loans to businesses, they should offer opportunities to families who can’t work from home or need the money. I don’t think there is a way it can be fully prevented because in order for the epidemic to come to a stop, everyone should stay home.
ReplyDelete