The United States economy has been through the wringer this year. From being at its all-time high in a long time to being at its absolute worst, we have seen it all in the year 2020 when it comes to the economy. But it is looking like things are finally starting to calm down for right now…we just don’t know how long that will last.
Since the very beginning of the pandemic back in March, we have seen multiple businesses close or file for bankruptcy. We have seen thousands upon thousands of U.S. citizens file for unemployment. We have seen eviction lawsuits, stricter rent payments, and just overall a harsh, money-controlled world to live in. With all the stress that the current Presidential Election has been giving us, it’s hard to look at anything other than that. But if we look at the numbers of how our economy is currently doing, I think it’ll shock you.
As of right now, it was said by the Commerce Department of the United States, that we have jumped back up by 7.4% in the third quarter of the year. This means that since July, our economy has slowly been increasing and that has a lot to do with business being able to finally open their doors again. But professionals are worried that this increase in numbers won’t last long.
You have to think of it like a rubber band. If you pull it back and then release, it’ll come right back at you at close to the same rate that you pulled it back. But after that initial movement, there isn’t much to be desired. Professionals are saying that after this 7.4% increase, we might not see much happen for a little while. They’re expecting that we will look at “pretty limp” numbers going forward. Don’t worry though! Because any movement forward counts and we will recover in time!
What are your thoughts about the U.S.’s recent climb? Let us know down in the comments.
This article originally published on GREY Journal.