Recent Economic/Socioeconomic Forces

Recent Economic/Socio-economic Forces
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The coronavirus (COVID-19) pandemic has hurt countries’ economies and the global economy. Measures adopted to stop the spread of the diseases resulted in restricting movement, traveling, and social distancing. Consequently, the Gross Domestic Product (GDP) feels when there was lower consumption and rising unemployment. However, the poor have been hard hit by growing unemployment, and government spending has bridged the gap. The widening economic inequalities in the post-crisis are linked to the poor losing their jobs and growing unemployment when there has been a slow recovery. In addition, socio-economic vulnerabilities worsened as the small businesses were adversely affected compared to the bigger businesses with capital and financing.
President Trump was first reluctant to accept a bill that extended pandemic aid after millions of Americans had lost their jobs and unemployment coverage (Coch...