A plethora of problems stemming from the COVID-19 pandemic have surfaced in America, leading the country towards an economic decline. These problems—including stagnating wages and a downward spiral in the production of goods—span across the board, affecting several sectors of the American economy. Together, they converge into the perfect storm, plaguing America with economic issues reminiscent of those of the 1970s.
The pandemic has inevitably brought upon some unfortunate situations. In an effort to curb this and assist millions of Americans, stimulus payments were given out. To help those that may be unsure with what to do with this extra cash, I developed a process to help readers narrow down their options.
Xenophobia and racism have been endemic throughout American history, but the COVID-19 pandemic highlighted how it affects the Asian American community in the United States. From suffering Asian-owned businesses to high rates of unemployment to lacking government programs, learn more about how the Asian American community is battling both discrimination and the pandemic.
The film Nomadland reveals very real problems concerning how policymakers and corporations exploit seasonal workers, specifically elderly gig economy employees. Although temporary employment may be attractive for companies such as Amazon, policy that targets a reduction in elderly poverty would help prevent aging Americans from converting to a tumultuous nomadic lifestyle, where they face low salaries and poor treatment.
As the United States attempts to build back the economy in the aftermath of the COVID-19 pandemic, debate over raising the federal minimum wage rages in Congress. What will this measure cost us? How much will it help? We explore this and more in the following article as we make the case for why we need a $15 federal minimum wage.
Millions of Americans lost their jobs due to the COVID-19 pandemic, but one key demographic may remain home even after the quarantine ends: women. Since the start of the pandemic, women have been leaving at a rate 4 times greater than their male counterparts. According to the U.S Bureau of Labor Statistics, 617,000 women left the workforce in September 2020, compared to 78,000 men. This great disparity isn’t just a consequence of gender inequality in the workplace. It’s a result of the forced division of labor between men and women in nuclear families, pressuring women with children and other family obligations to prioritize the needs of others over their own professional fulfillment.
With the coronavirus spreading throughout the US, the CARES Act is intended to stop people from finding employment in high transmission jobs, spreading COVID-19 further. How effective is this act? Wayne Chien takes us further with this article.
About a year ago, I wrote this article about why the Fed was raising rates in trying to engineer a soft landing. The objective was to prevent an overheated economy and high inflation rates, given the record unemployment levels among other things. The theory goes that tight labor markets lead to wage growth. Wage growth leads to high inflation. Raising rates might prevent that. This was the sentiment at the Fed over a year ago.