SOLUTION: US The COVID 19 Pandemic Started in China in 2019 Essay
SOLUTION: US The COVID 19 Pandemic Started in China in 2019 Essay.
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US Economic Recovery Following the Covid-19 Crisis
Name of Institution
Summary of the Covid-19 Crisis
The Covid-19 pandemic started in China in 2019, and for several months, it had spread across
different countries with high intensity. The pandemic spread globally and is now recognized
as the fifth worse pandemic to hit the globe. In September 2021, the pandemic infected more
than 200 million cases and caused over five million deaths worldwide (Davahli et al., 2020).
The United States was highly affected, recording higher infection rates and death rates than
other nations. The pandemic created health and economic crises, disrupting millions of lives
and employment opportunities leading to an economic slowdown (Kurmann, Lalé & Ta,
2020). In September 2020, the country had recorded close to seven million infection cases
and close to 200 000 deaths. The economy was impacted by demand and supply shocks due
to lockdowns. The paper will evaluate the impact of the crisis on the US economy and offer a
reflection on its implications through an interview approach.
The interviewee and decision considerations
The research chose to interview Liam, a cashier in Starbucks fast foods. The hospitality
sector was highly affected by the crisis compared to all other sectors in the economy, making
it a fundamental interest. Many countries entered into lockdown with the closure of
significant activities in eateries and restaurants with health concerns. The government
approach of shutting down hotels and restaurants created an immediate shift in employment
in the hospitality sector, with hotels closing some branches and laying off workers. Mr Liam
was partially sent into mandatory leave with a significant reduction in payment. Hence, he
was a good fit for the process and would easily allow us to realize how the economy was
affected through his personal experience during the pandemic. Having been temporally
unemployed, losing his source of income had significant consumption challenges leading to a
decline in his living standards, making him a key contributor to the study.
The Economic Impact of the Covid-19 Crisis on the economy
When the pandemic began, Liam’s main fear was being infected, which affected the nature of
interaction with customers. With government adoption of control and preventive measures,
the fear turned into a life tragedy. The restriction on operations in the industry following the
lockdowns slowed incomes and hotel booking, which resulted in reconstruction in working
hours and employee payments. A significant impact on Liam was the temporal loss of
employment and decrease in income; this was a significant fallout into numerous economic
and financial challenges (Khan et al., 2021). His case reflected the loss of jobs reflected in the
hospitality sector and the economy. The Us bureau of statistics estimated 9.6 million job
losses during the pandemic; the hospitality sector recorded a decline in employment by 16%.
Due to economic uncertainties, Mr Liam’s household consumption was highly affected,
creating high family tension from his self-isolation. His estimated consumption declined by
40%, with all budgets being slashed to accommodate the changes in income; the decrease …
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