{"id":51867,"date":"2020-03-20T16:08:14","date_gmt":"2020-03-20T21:08:14","guid":{"rendered":"https:\/\/olduvai.ca\/?p=51867"},"modified":"2020-03-20T16:08:18","modified_gmt":"2020-03-20T21:08:18","slug":"the-covid-19-economic-crisis-will-change-everything-short-term-and-long-term-effects","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=51867","title":{"rendered":"The Covid-19 Economic Crisis Will Change Everything: Short Term and Long Term Effects"},"content":{"rendered":"\n

The Covid-19 Economic Crisis Will Change Everything: Short Term and Long Term Effects <\/a><\/h3>\n\n\n\n

Whether you think the global pandemic is \u201cjust the flu\u201d or you realize it\u2019s the real deal, one thing is difficult to debate \u2013 many Americans are already feeling the economic pain being caused by the outbreak and the measures taken to stop it.<\/p>\n\n\n\n

Unemployment claims skyrocketed this week as businesses laid-off employees in an attempt to weather the storm. More than 281,000 people filed for unemployment<\/a> and those numbers would have been even higher if the influx of claims had not crashed the systems in several states<\/a>.<\/p>\n\n\n\n

In a news release, the Department of Labor said:<\/p>\n\n\n\n

During the week ending March 14, the increase in initial claims are clearly attributable to impacts from the COVID-19 virus. A number of states specifically cited COVID-19 related layoffs, while many states reported increased layoffs in service-related industries broadly and in the accommodation and food services industries specifically, as well as in the transportation and warehousing industry, whether COVID-19 was identified directly or not. (source<\/a>)<\/p><\/blockquote>\n\n\n\n

At the same time as employees are filing claims, businesses are trying to figure out how to stay afloat. Restaurants are switching to carry-out only. Bars are closed. Retail sales are down unless the business happens to be selling vital supplies like medications, food, and the new gold standard, toilet paper and Lysol wipes.<\/p>\n\n\n\n

The Covid-19 pandemic is causing an economic crisis that will have both short-term and long-term effects. This will challenge your adaptability skills, but I want to stress something: life will be different, but that doesn\u2019t mean life is over. <\/strong> Here\u2019s what you need to know.<\/p>\n\n\n\n

Recession or Depression?<\/strong><\/p>\n\n\n\n

This is just the beginning of the economic crisis bearing down on us. As social distancing measures become more widespread, less and less money will be in play \u2013 both earned and spent.<\/p>\n\n\n\n

\u2026click on the above link to read the rest of the article\u2026<\/p>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

The Covid-19 Economic Crisis Will Change Everything: Short Term and Long Term Effects Whether you think the global pandemic is \u201cjust the flu\u201d or you realize it\u2019s the real deal, one thing is difficult to debate \u2013 many Americans are already feeling the economic pain being caused by the outbreak and the measures taken to […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2,4],"tags":[28817,29011,6156,19255,5756,824,7258],"class_list":["post-51867","post","type-post","status-publish","format-standard","hentry","category-economics","category-environment","tag-coronavirus","tag-covid-19","tag-daisy-luther","tag-global-pandemic","tag-the-organic-prepper","tag-unemployment","tag-viral-outbreak"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/51867","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=51867"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/51867\/revisions"}],"predecessor-version":[{"id":51868,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/51867\/revisions\/51868"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=51867"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=51867"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=51867"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}