As the Economy Goes In the Red, the Virus Continues to Spread

As the Economy Goes In the Red, the Virus Continues to Spread

Amanda White, Staff Writer and Shaun Williams, Staff Writer

The death rates are still rising as COVID-19 cases are still growing, the big question is when is this going to end and how will the economy recover. The coronavirus is affecting the stock market and bringing it to a new low, which makes the economy deficient. Stock prices affect the consumer aspect of things that impact the overall economy. 

Many Americans are unemployed and are losing their jobs due to coronavirus. More than six million workers have lost their jobs which brings the economy to a standstill. More people have been jobless in the past three weeks than in two years of the last recession. Many economists don’t know the long term effect on what it will do but it will take a very long time to get the economy back up.

The government is considering a slew of legislation and orders to answer to the crisis because of its effect on many United States citizens. The government is looking to mail Americans cash assistance and they want to pass legislation that provides paid sick leave for many American workers who are going through hard times.

This pandemic has affected many people locally and is making an impact on their income. People that own their own businesses such as Jade Jackey’s parents, who own two stores on Main Street in Westhampton Beach,  are being affected economically. 

 The Tufano family, who owns a landscaping company, say many of their clients aren’t sending in checks because many people are having a hard time with money. Plus, they can only do certain maintenance work since landscaping is not an essential business which will limit the amount of money coming in.

Many local businesses and workers hope to go back to work soon but don’t want it to affect anyone’s well being. As of right now, New York is supposed to reopen May 15th but it could change. Many believe that “low-risk” businesses will reopen but Governor Cuomo has not come out and said that the date will change.