Labor Market Is Regaining Footing In The US Amidst Pandemic

Labor Market Is Regaining Footing In The US Amidst Pandemic

The number of Americans who were filing for unemployment benefits rose last week. Most probably it was boosted by the winter storms in the Southern parts of the US. But, at present, the labor market is refraining its footing amidst the declining number of cases.

Labor Market Is Regaining Footing In The US Amidst Pandemic

As per a report, the job cuts announced by US-based companies surged to 57% in the US. The labor market lagged an improvement in the overall economic activity. 

As per the promises made by President Biden while he entered the office, almost 100 million Americans will receive the vaccine within 100 days of his office. Thus, the labor market will also regain its footing. 

Labor Market Is Regaining Footing In The US Amidst Pandemic

The availability of new single-dose vaccines by J&J will also aid in improvement in condition. The companies are working day and night to make sure that vaccines reach the people. As per a statement made by president Biden on Thursday, by the end of April, most adults who are ready to receive the vaccine will get vaccinated. 

Although the process of vaccine making is not like making automobiles, the US is working at the same pace. Different variables are taken into consideration while making vaccines. Sometimes it might be difficult to get the expected yield. The variables that impact the delivery of vaccines include the test delays, delay in supply of raw materials, and the supply chain management issues.

But, America is ready to face all these challenges and get ready to enter the world that will be free of viruses. If everything works well. There will be enough vaccines as early as mid-April. No one knew a few months back that the US would reach its milestone so soon. To get back to the normal, the US will need 400 million doses from Modern and Pfizer. In addition to this, the 100 million additional vaccines by J&J will make the task even more easier.

Thus, more than 255 million American adults will get back to work and economic activity after receiving the back by Mid-April to early-May.

Countries and economies all over the world have been impacted because of the virus. But, nations are taking steps so that people can work normally. President Biden also wants children to get back to school soon.

The achievement by the vaccine manufacturers is certainly exciting and people are quite hopeful. Many laws were created for the effective manufacturing of vaccines. In Fact, there has been a collaboration between Merck and J&J for vaccine manufacturing. These companies are fierce rivals but they have come together to get the vaccine manufactured. As per recent information Merck will also invest additional $100 million for manufacturing of vaccines. 

Amidst the arrival of the new vaccine strain, people can just pray that the vaccine should be effective against the new strain. Most officials believe that the vaccine will be effective against the new strain as well. But, nothing is clear yet. America will win the war against the virus and the labor market will boom again.

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