Here’s what still threatens America’s economic recovery: by theothersarahh
While Friday’s optimistic jobs news showed the U.S. added 2.5 million jobs in May rather than the loss of 9 million that most experts were expecting, the economy is not yet out of the woods. Here’s what could derail the U.S. recovery.
” see a second wave, Dr. Anthony Fauci said last week, though he acknowledged that new infections will rise in the fall and winter.: The May jobs report also noted that while retail, hospitality, and construction jobs have begun to bounce back, government workers are still being laid off with more than half a million state and local government jobs eliminated in the same period. across the board because of the coronavirus, more trouble could be ahead for the largest employers in the nation.
Lawmakers are still divided over how to address the raft of expiring benefits , with Democrats pushing for more immediate rescue spending while Republicans have advocated for waiting to see how existing stimulus spending shakes out in the economy.These risks come as the stock market stages a remarkable rally— right now, the S&P 500 is up over 40% from its coronavirus crisis-level low on March 23, 2020.
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