Unemployment numbers outpacing the government efforts

The deterioration of the economy of United States has been quicker than what had been anticipated some days ago as there were extraordinary measures designed for the curbing of coronavirus and keeping the Americans inside their homes and causing an almost complete business shutdown. In a period of 24 hours, the governors of three of the biggest states in US have ordered their residents to stick to their homes and only step out of they need to buy food or medicine. All over the world, there has been a struggle to cope up with the growth in the coronavirus patient numbers while Pennsylvania governor completely ordered a closure of every nonessential business.  The WHO noted that while it had taken the world 3 months to reach the figure of 100,000 cases, it has taken just 12 days for hitting a further 100,000. The result has been meltdown in economy which has sent a lot of workers deep into the line of unemployment and that has been faster than the efforts of government to respond to this. On this Friday, the Senate had raced to complete the work on the revenue packages, the major lawmakers had been dramatically expanding the scope and putting the legislation far ahead of the original price tag of $1trillon.

With every passing day, the stoppage has gathered force as the movie theatres, restaurants and the sporting arenas as well as offices had closed in order to protect themselves from the rapid spread of this disease and it is evident that the decline is going to be a lot more painful than what the 2008 crisis had been which is extremely bad news.