Article

June 15th, 2020

Kahoot activity: How COVID has affected U.S. economy

CoronavirusEconomicsPoliticsSocial StudiesSTEMU.S.
A man stands in front of a Modell’s store that is closed, as retail sales suffer record drop during the outbreak of the coronavirus disease (COVID-19) in New York City, New York, U.S., April 15, 2020. REUTERS/Bryan R Smith

 

Directions: Check out the latest news on the ways COVID-19 is affecting the U.S. economy. At the end, play this Kahoot game to test your knowledge of coronavirus’ impact. Click on the Kahoot link, login with your school or personal account, grab the code from your computer/table device and plug it in with your phone.

Summary: The U.S. Labor Department published their latest numbers in early June on the impact the coronavirus has had on the economy and unemployment. This latest report provides evidence that the economy may be slowly recovering as businesses open up, even as Americans continue to apply for unemployment benefits. 

  1. The jobs report from early June indicated that the economy added 2.5 million jobs, an unexpected increase in jobs led to a slight decrease in the total amount of people receiving unemployment benefits.
  2. The unemployment rate remains high at 13.3 percent with nearly 21 million people officially classified as unemployed.
    • The government said millions were categorized incorrectly as employed in the latest job report. Thus, economists estimate that as many as 32 million people are unemployed, or20 percent of the workforce. 
  3. African American businesses have been hit especially hard by the quarantine with more than 41 percent having to close during the pandemic.
    • One of the reasons these businesses have been hit especially hard is that they were in industries that were deemed non-essential, therefore, legally, they could not open their doors. 
    • Furthermore, few of these businesses received money from the Paycheck Protection Program (PPP) because mainstream banks traditionally work with existing customers, many of whom are not African Americans, based on a long history of discrimination.
  4. The pandemic has also shined a light on the shortage of workers with the necessary skills needed in the workplace. Colleges and universities are experiencing pressure to institute more job training programs for students, something U.S. colleges have long had trouble doing.

Proposals to build these skills include large federal investments in community colleges for jobs in high-demand fields, including veterinarian work, technology and the medical field.

Today’s class activity was created by EXTRA’s intern Ramses Rubio, a junior at Amherst College.


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