Did you know that the coronavirus is affecting people in many ways? I will be talking about one main impact, the economic impact. The coronavirus is affecting people economically in a negative way because people are losing jobs, places are losing money and people are having to pay more money. Would you really want this to continue and eventually happen to you? 

People Are Losing Jobs

First, the coronavirus is affecting people economically in a negative way because people are losing jobs. People are losing jobs because they have to protect their families. They cannot go outside or go to their work building or else they might get sick. They are putting themselves and their families at risk. They cannot afford to get sick, spread it through their family, and then have to pay for their health care, which is expensive. Additionally, many jobs include socializing with other people, such as working at a supermarket. According to “Here’s the devastating impact of the coronavirus pandemic,”  “22 million” is “the number of Americans who’ve applied for unemployment in just the last month as businesses have been forced to shutter. That means roughly 13.5% of the labor force is out of work. It’s the largest rise in unemployment claims since the Department of Labor started tracking them in the 1960s.” This can cause people to not come to their jobs, either because they can’t or because they do not want to risk getting sick. “26 Million Jobs Lost,” says, “That brings the total of jobless claims in just five weeks to more than 26 million people.” Lastly, people do not have the supplies to get the necessities. This can affect how people are losing their jobs because if the place where they are working does not make enough money, this can affect the job.

Stores And Restaurants Are Losing Money

Second, the coronavirus is affecting people economically in a negative way because stores and restaurants are losing more money. There has been less business since people do not want the coronavirus. People do not want to go outside and only want to buy necessities; however, there are workers in restaurants who can’t make any money because there are no customers. Furthermore,  people do not want to come to their jobs. If there are fewer people working, it is harder for companies to survive, because people cannot run a company without any workers. This is creating difficulties with money and jobs. Also, according to “Here’s the devastating impact of the coronavirus pandemic,”  “$2 trillion” is “the amount the global economy could lose during the Covid-19 pandemic, according to the United Nations Conference on Trade and Development. This would follow the longest period of economic expansion in the US, which saw the national economy gradually rebound after the 2008 financial crisis.” 

People Have To Pay More Money

Third, the coronavirus is affecting people economically in a negative way because people have to pay more money. If someone gets the coronavirus, they will have to pay to get health care. This can be hard if people do not have enough money for health care or insurance. According to “Coronavirus made 59M Americans lose money”: “Of those who canceled their plans over the pandemic, 37 percent of the survey’s respondents said they lost money, which is equivalent to 59 million people according to Bankrate’s statistical calculation.” This shows how some people are even losing money through canceled flights or didn’t want to go on flights. Also, since there is no school or school lunch, people have to pay for that if they have kids. Kids cost a lot of money and people that let their kids go to school can reduce this amount because public schools provide school lunch. However, with the coronavirus, people have to spend money to provide all the food that they need. Also, people are using supplies more and they are out of supplies quicker because they are home more often. People have been going through groceries really fast because they do not want to buy lunch as much or cannot get free lunch. Also, most people did not need the hand sanitizer, masks, and other supplies that they need now because of the coronavirus.

Problems This Is Creating 

The economic effect of the coronavirus is creating lots of problems. First, people are stealing and looting because they feel helpless in their situation. People need money to buy food and water, but losing jobs and losing money can make them feel helpless and the only thing they can do is steal. Second, people are getting impatient and trying to find ways around the coronavirus. Some people don’t care about getting the coronavirus and if they do not care and get it, they can easily spread it to other people, including workers in a business. Lastly, people are acting irrationally. This is bad because it can create more hardships for stores and the people that have their things stolen. Additionally, not all people can get tested. According to “Confusion and chaos surround coronavirus”: “That means about 75,000 people can get tested—far fewer than the 1.5 million tests the Food and Drug Administration (FDA) pledged the U.S. would roll out by the end of last week.”

Solutions

People are trying to fix this big problem. For example, the government is trying to get health care supplies for people. “An instant economic crisis” explains, “The US Congress came together to pass a stimulus package of unprecedented size, with provisions to support businesses and individuals. Around $500 billion is aimed at aiding citizens.” 

The coronavirus is affecting the world in a negative economic way. We need to help. According to Dhar Mann on YouTube, “The only way we’re going to get through this is if we think as WE, not ME. Know that people are trying to work together to help us. Focus on the positive and not the negative. We can get through this!”

Disclaimer: The views and opinions expressed in this article are those of the author and/or student and do not necessarily reflect the official policy or position of United 4 Social Change Inc., its board members, or officers.
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