America’s economy taking a second wave hit as business shut down due to an increase in corona cases

July 9, 2020: The record high single-day spike of 60,000 reported on Tuesday and, the reopening of business is looking risky as the cases increase drastically.

The small and medium-sized business closure was a high impact on unemployment. The total re-opening of the business was not possible. However, in some states, the businesses re-opened last month.

There was a decline in the coronavirus cases in states which are hit badly like California, Texas, Arizona. The states saw a decline in early June as the functioning is shut and the offices and shops were closed. In the month of July, re-opening has made the number of cases strike at peak. IN several counties in California, we saw the shortage of ICU in the hospitals.

  • The highly impacted industry is Manufacturing and Construction and, the industry with less customer interaction. The companies reopened last week and, an increasing number of cases will force the industry to shut down again.
  • There was a total of $1trillion loss in the GDP for the last three months
  • The governor and other officials say shutting down is not an option now as we cannot get the market down.
  • The increase in cases would impact the security of the public and make people panic, and we saw a large number of companies shut down. There was permanent shut down for almost 40% of small businesses. The second shut down will impact the economy negatively, and the unemployment rate will be higher than ever.

The second shut down is never an option. But, given the current situation, we can soon see the next shut down in different states. There are more than 4-dozen states under high alert for an increase in the corona cases.

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