When President Joe Biden signed a $1.9 trillion U.S. stimulus package in March, dissolving most of the emergency pandemic safety net come September seemed to make sense. Vaccinations were rising rapidly, and schools were preparing to resume in-person learning in the fall, removing two main hurdles keeping people—especially parents—out of the workforce.
All spring long, that month was heralded as a symbolic turning point for the U.S. economy. With schools set to reopen, companies solidified September return-to-office dates. Virus fears were abating, with the country in May on track to have 75% of the population vaccinated in September. The shortage of workers—brought on by a mismatch between the robust snapback in consumer demand and the number of Americans willing and able to work—was expected to “fade in the coming months and disappear by the fall,” Goldman Sachs Group Inc. economists said in May. It “makes sense” to end the temporary boost in unemployment benefits in September as planned, Biden said in June, and about half the states announced plans to end the expanded jobless aid before the expiration date.
“If you took the data points that were available at that time, theoretically you would’ve said September, and that’s what everyone said,” says Joshua Barocas, associate professor of medicine at the University of Colorado School of Medicine. “There was actually agreement with the two ends of the spectrum that generally are pitted against each other—the economic sector and the public health sector.”
この記事は Bloomberg Businessweek の August 30, 2021 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
すでに購読者です ? サインイン
この記事は Bloomberg Businessweek の August 30, 2021 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
すでに購読者です? サインイン
Instagram's Founders Say It's Time for a New Social App
The rise of AI and the fall of Twitter could create opportunities for upstarts
Running in Circles
A subscription running shoe program aims to fight footwear waste
What I Learned Working at a Hawaiien Mega-Resort
Nine wild secrets from the staff at Turtle Bay, who have to manage everyone from haughty honeymooners to go-go-dancing golfers.
How Noma Will Blossom In Kyoto
The best restaurant in the world just began its second pop-up in Japan. Here's what's cooking
The Last-Mover Problem
A startup called Sennder is trying to bring an extremely tech-resistant industry into the age of apps
Tick Tock, TikTok
The US thinks the Chinese-owned social media app is a major national security risk. TikTok is running out of ways to avoid a ban
Cleaner Clothing Dye, Made From Bacteria
A UK company produces colors with less water than conventional methods and no toxic chemicals
Pumping Heat in Hamburg
The German port city plans to store hot water underground and bring it up to heat homes in the winter
Sustainability: Calamari's Climate Edge
Squid's ability to flourish in warmer waters makes it fitting for a diet for the changing environment
New Money, New Problems
In Naples, an influx of wealthy is displacing out-of-towners lower-income workers