A year after the epidemic, the sky starts to clear for the US economy – Money Times

A year after the epidemic, the sky starts to clear for the US economy - Money Times
In fact, job vacancies on the job opportunity website are up 4% on a pre-epidemic basis (image: Reuters)

Despite flirtation Economy From The us Last year with a depression and epidemic of Coronavirus, Which practically halts travel, Jeff Hurst, the chief executive of the vacation rental company VRBO, sees a boom on the horizon.

“All homes will be rented out this summer,” Hurst said, adding that the expected protection from the vaccine is consistent with the warmer climate in the Northern Hemisphere, freeing up a safe population with record savings saved. “There is a lot of demand.”

Such an optimistic sentiment has quickly taken root among executives, analysts and consumers who have seen the last year of hibernation – with the finale Business Continued search by the public to avoid risk until ordered by the government – leading to a cautious revival of the economy.

Data from short-term rental analytics firm AirDNA showed that vacation bookings at the end of March, which are traditionally for college Americans with spring break, are just 2% below pre-epidemic.

In fact job vacancies on the Job Opportunities website are 4% higher than on a pre-epidemic basis. Data on retail traffic, air travel and restaurants has increased.

And economists’ forecasts have advanced that companies such as Oxford Economics have seen the economy “grow” with a 7% growth this year, the most typical of developing countries.

Avoid depression

As of February 25, approximately 46 million people in the United States had received at least the first dose of the Kovid-19 vaccine – still less than 15% of the population and more than half killed enough to slow the spread of the virus There is not one million people in the country according to the US Center for Disease Control and Prevention.

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But the sharp decline in vaccine delivery and new cases produced an unimaginable economic outlook a year ago, when the Federal Reserve opened its emergency manual on a brief promise of action, while Congress approved the first of several rescue efforts.

As of February 25, approximately 46 million people in the United States have received at least the first dose of the Kovid-19 vaccine (image: REUTERS / Kevin Lamarck / file photo)

This fear was similar to that seen in the Great Depression of 1930, which had been stuck for years.

Instead, the first vaccines were delivered before the end of 2020, and a record fiscal and monetary intervention led to an increase in personal income, something unprecedented in the recession.

Gross domestic product During the summer in the US Northern Hemisphere may have reached its pre-epidemic level, a few weeks before “V” recovery was unlikely.

This still means lost growth of more than a year, but it still represents two recoveries as seen after the recession of 2007–2009.

Cory Weinberg

About the author: Cory Weinberg

Cory Weinberg covers the intersection of tech and cities. That means digging into how startups and big tech companies are trying to reshape real estate, transportation, urban planning, and travel. Previously, he reported on Bay Area housing and commercial real estate for the San Francisco Business Times. He received a "best young journalist" award from the National Association of Real Estate Editors.

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