Question

how COVID-19 has affected the U.S economy. Also 4-5 charts with different economic measures that graphically represent the negative economic implications of the epidemic.

Answer 1

Covid 19 affected US economy in manifold ways .American stock market has sunk a quarter from its peak , wiping out last three years gain . It is said that the unemployment level of the country has raisen at its peak. Around 3.28 million americans applied for unemployment benefits.Covid 19's hit on different industries of US .The share of different sectors like industries , services and others to GDP has fallen steaply.The US congress has passed a massive stimulus bill that provides for hundreds of millions in new spending , expanding unemployment insurance and providing a cash handout to a low and middle income americans.

MAJOR SETBACKS

   Unemployment rate expected to spike to 12% ,with a loss of 4.58 million jobs for average for the monthly non farm payroll employment.Industries, including commercial aerospace , travel and insurance has the harderst hit.As supply chains around the world are distrupted,there is high cut shorts in the areas of prodution and distribution.