No Result
View All Result
Today Minutes
  • Home
  • Fashion
  • Celebrity
  • Culture
  • Lifestyle
  • Travel
  • Food
  • Home
  • Fashion
  • Celebrity
  • Culture
  • Lifestyle
  • Travel
  • Food
No Result
View All Result
Today Minutes
No Result
View All Result
Home Economy

The U.S. economy is bigger than ever, but it’s still got a few big problems, too

by todayminutes
August 1, 2021
0

Hurray. The U.S. economy has revived so quickly that it’s now larger than it was before the pandemic. But it’s still no time to celebrate.

After a sizzling 6.5% rate of annualized growth in the spring, the size of the economy surpassed its pre-coronavirus peak. And it happened a lot faster than virtually anyone would have predicted one year ago.

“Last year at this time, the U.S. economy was facing a near Great Depression scenario,” said chief economist Scott Anderson of Bank of the West. “Much of the leisure and hospitality and service economy was flat on its back and the U.S. unemployment rate hovered at 10.2%.  What a difference a year makes.”

Yet the economy is still not nearly as big as it would have been had the pandemic never happened at all. Economists estimate it’s about 2.7% smaller than it would have been without COVID.

Now 2.7% might not sound like much, but in a $22 trillion economy that’s a lot of missing jobs, worker pay and business profits.

Missing jobs is still a big problem for the economy.

Read More….

todayminutes

todayminutes

Next Post
Businesses still face decisions with mask requirements

Businesses still face decisions with mask requirements

No Result
View All Result

Categories

  • AirLines (1)
  • business (250)
  • Celebrity (64)
  • climate (1)
  • Culture (40)
  • Economy (13)
  • Electric Vehicles (3)
  • Entertainment (323)
  • Fashion (49)
  • finance (24)
  • Food (36)
  • Health (45)
  • Lifestyle (23)
  • Music (84)
  • Politics (319)
  • Science (23)
  • Sports (356)
  • Technology (32)
  • Travel (62)
  • Uncategorized (9)
  • Weather (2)
  • World (83)

Recent.

Amazon, Rite Aid cap purchase of emergency contraceptives

R. Kelly sentenced to 30 years in prison following sex trafficking conviction

Most say nation on wrong track, including Dems

© 2021 Today Minutes All Rights Reserved

  • Contact Us
  • Privacy Policy
  • Terms Of Service
  • Unsubscribe
No Result
View All Result
  • Home
  • Fashion
  • Celebrity
  • Culture
  • Lifestyle
  • Travel
  • Food

© 2021 Today Minutes All Rights Reserved