Covid did not make us poor, we were already poor and fragile due to our misplaced priorities.

• News By : Web Desk
• 2021-11-05 13:57:32

Hyderabad: 5 November 2021: Officially, the #Covid19 #recession lasted just two months. But many people in the US are still suffering. Cassie is one of them. She's stuck in what can feel like an inescapable poverty trap. Her family hasn't been able to afford child care, so she watches the kids — ages 1, 2, 5, and 9 — during the day while her husband goes to work for a little more than minimum wage. She's desperate to start working again, but can't afford to send their youngest children to day care while she looks for a job. Mississippi, where she lives, has child care assistance programs, but Cassie says she would have to already be working to qualify. She's thought about trying to find something to do remotely, but she doesn't have an internet connection at home.
Cassie is just one person, but her experience highlights that what's happening in the economy depends on where you look and who you ask. By many of the usual benchmarks, the US would appear to be in the midst of a relatively robust — albeit rocky — economic recovery. #GDP has bounced back, #unemployment is falling, and the stock market is booming. American households added a collective $13.5 trillion to their wealth in 2020. The #economy hit its pandemic-induced low point in April 2020, according to those in charge of deciding these things, and has been improving ever since. Unofficially, to a lot of people, the term "economic recovery" is meaningless — or, at the very least, a little hard to swallow. For many people in the US, it's a nebulous idea not based in their day-to-day realities.
Vox

• Share