Economic Impact from Covid-19

Alexis Marquez

As the number of confirmed Covid cases increases, businesses such as restaurants and fisheries are being shut down around the world which is causing mass unemployment.

The unemployment rate has increased in all 50 states. Millions of families have been affected due to unemployment. According to The Washington Post, more than 40 million people applied for unemployment during the pandemic. As different companies file for bankruptcy due to the pandemic, the unemployment rate increases even more. Even as the economy starts to open, many people would prefer staying home and avoid getting the virus. Many people have lost their businesses because they were unable to pay for their rent on account of a lack of customers and nonessential business closures.   

Kameron Johnson talks about how a business near her house was closed due to the economic impact of coronavirus.

“There was a business near my house and they just lost it,” Junior Kameron Johnson said. “Because no one was really going to their business and lost money, which led them to lose their  business.”

Fishing markets are among the most affected businesses in this pandemic. Since there are transportation and border restrictions being enacted in order to limit the spread of the coronavirus, it made it more difficult to transport fish products and seafood to the U.S. This has caused fish markets to lose money since they did not have many fish to sell. 

Junior Omar Segura said that his dad’s fishing business was impacted economically by Covid due to a lack of seafood shipping. According to the New York Times,  China has the world’s biggest seaport and airports, but using them has become a lot harder because of quarantine, factories closing and roadblocks.

 “My dad works with fish and stuff. His issue was that he couldn’t sell some certain fish,” Omar Segura said.  Because they weren’t bringing those fish from China because of the virus.”

 Not only has Covid affected the economy but it has affected laborers across the globe. Since the airports were closed and flights were canceled, many out-of-state commuters had to work at home or not work at all. 

Liz Trejo discusses how her father was impacted economically from Covid-19. 

“My dad is, he’s like a soft contractor. Right? So he’s like his own boss,”  Trejo said. “He’s in charge of doing his own jobs and such. So we haven’t been affected by much, but definitely, because of quarantine. For a few months, he couldn’t go out to do jobs.”