Question

test review help please

Posting Opportunity: Micro News Story Discussion or Micro Topic of Your Choice (WK 2) Wednesday posts can be accounts of economic events or issues you read about (online or on paper) in newspapers or business or economic magazines (or discussions of course-related topics drawing on your own experiences or thoughts). Please provide a link (but no more) to any story or article you draw upon, or a citation if the story or article was not online. Your post. if you do one, should be a discussion in your own words about the story (with any phrases taken directly from the article in quotation marks). Remember that the posting part of the course grade comes from your five highest-graded posting opportunities - so you don't need to do more than five altogether during the semester (and they can be any combination of Wednesday- and Saturday-type posts you choose) to fulfill this part of the course grading (or you can not post at all and have that be the grade which is dropped when it comes time to calculate the course grade).

Answer 1

The US till recently was having a 3.4% unemployment which was a 50 year low but the shutdown due to the pandemic led to increased unemployment as around "6 million claims were observed at the end of March." In June around "17 million were still unemployed and as per reports around 33 million had filed for unemployment benefits" till recently. Even the once employed have had cut in hours and also cut in wages. This hit has been predominantly on Hispanics where around 61% of Hispanic households have lost their income due to the pandemic followed by 43% of blacks. The federal is providing benefits of $600 as weekly benefits and this provides a huge help to laid-off workers. The authorities should soon start framing and building up the economies by focusing on domestic production and by providing firms with fiscal packages and tax cuts. This package would induce firms to produce hence increase demand which will directly improve employment.