UNEMPLOYMENT AT AN ALL-TIME HIGH

With+the+pandemic+going+on%2C+unemployment+levels+have+spiked.

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With the pandemic going on, unemployment levels have spiked.

Anusha Sikand, Reporter

Scarce resources resulting from the coronavirus have affected many countries, leading to a global unemployment crisis. From technology industries to textile industries, COVID-19 has restricted the advancements of societal development. The majority of the workers who are affected in this pandemic are “blue-collar workers” which typically consists of labor-intensive jobs in manual labor. Florida, one of the top five states affected by the coronavirus in regards to unemployment, has an estimated employment decline of 7.9%. Florida relies on its tourism industry but with theme parks closed, thousands of workers are left unemployed.

 

“My mom works with disabled kids and is still required to go to work during this pandemic. It is worrisome that others like her that are still working face the risk of catching the virus and bringing it home. However, not everyone is fortunate enough to still be working during this unstable time.” said senior Aditi Dubey.

 

In this time of mandatory social distancing, many people are left unemployed, unable to work, or are laid off. Desperate for unemployment benefits, Americans are risking their lives by exposing themselves to the coronavirus to file for unemployment. Due to the high volume of applicants, the online website for filing unemployment is constantly crashing. Florida counties with libraries open have long lines of people waiting to print out their applications, such as Miami-Dade County. While unemployment was expected, the vast number of unemployment applications came as a shock to government officials. Over the last two weeks, around 10 million Americans filed for unemployment. Funding in this time of crisis is low due to a shift in resources going towards the healthcare industry and sending low developed countries essentials to limit the spread of the coronavirus. With so many Americans unemployed, resources are becoming more scarce as compensation needed for the unemployed is higher than the amount of money the government has set aside for unemployed personnel. With Congress focusing on overcoming this pandemic, the economic effects may be too great to overcome.

 

With more than 74,000 Floridians applying for unemployment, phone lines for the state’s government office are tied up. Other ways to file for unemployment are by visiting one of the designated libraries to receive a hard copy of the unemployment forms or download the paper application online. 

 

“Working from home is a bit difficult because my dad has constant meetings and he has to be alert for many hours. Communication is very hard to maintain working from home.” states senior Courtney Ha. 

 

The pandemics have also caused stocks to hit an all-time low similar to the2008 recession. A recession is predicted to occur as there is an influx of demand for necessities such as toilet paper and hand sanitizer but also a significantly decreased demand for goods such as oil. The U.S. Treasury is trying to help small businesses by implementing $250 billion to create a new program that eases the process of taking out loans. However, excessive amounts of loans create an increased debt for the U.S. Small businesses that rely on regular customers living paycheck to paycheck are the most vulnerable to file for unemployment. Many businesses are reaching out to landlords to break three or four-year contracts in case of bankruptcy. 

 

The economic problems being faced by the world are going to be difficult to fix. By donating to local shelters and helping people in need, the repercussions that will occur once the coronavirus blows over will decrease. However, unemployment has been a persistent issue for years and with rates fluctuating constantly, COVID-19 may cause the unemployment crisis to be at an all-time high, leading America into an all-time low.