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COVID-19: The Impact on the Economy and Employees

Writer's picture: Patrick CarruthPatrick Carruth

Updated: Sep 23, 2021

Patrick Carruth



Amidst the Coronavirus outbreak, many people have lost their jobs or their hours have been reduced by their employers. This has placed a strain not only on people’s finances but the economy as well.

“About a month before the Coronavirus outbreak, I had finally gotten a job in my career field nearly eight months after graduating from Sam Houston State. It’s a very unfortunate situation. Now, I’m going back to the drawing board since I now have to search for another job because I have bills that need to be paid.” Nick Gosselin, a resident of Conroe, Texas states.

If the virus subsides, the country could open up again soon according to President Donald Trump.

“We’ll be announcing a date very shortly. Frankly, it will be at a time that will be earlier than the deadline that we imposed, the end of April.” Trump said during his COVID-19 Task Force press conference on April 14th.

While this comes as a surprise to many people, something that needs to be proven first, it is a form of good news that the country could certainly use.

Another form of good news the nation received was the passing of the Coronavirus stimulus package plan that is placing money in the pockets of United States citizens. Unfortunately, there are many that will not qualify for the stimulus package. One population that is affected are colleges students who work but live at home with their parents. At times, these students are classified as dependents on their parent’s tax returns. If that is the case, they will not qualify for aid from the stimulus package.

“Since I am claimed as a dependent on my parent’s tax return, I will not be receiving a stimulus check. I was actually in the process of buying my first car under my name and finding my own place to live, but all of this will have to wait until I can get a stable job again and income to be self-supporting.” Gosselin states.

One industry that has been extremely affected by COVID-19 is the restaurant business. While most restaurants have been able to stay open for to-go services, this leaves many employees with little to no hours because there is not a need for waiters, bartenders, and other staff.

“My job has been impacted by COVID-19 to the extent that I haven’t worked in nearly a month because restaurants are strictly to-go for the foreseeable future, so in result of that I am penny pinching and just trying to save money as best as I can. I did receive a stimulus check yesterday and that does help, but it doesn’t quite solve the problem at hand.” explained Aaron Woods, a Beaumont, Texas resident and waiter/bartender.

As long as the Center For Disease Control guidelines and social distance orders are in place, restaurants will operate in a take-out only style, leaving many employees without an income. However, it could all end sooner rather than later.

“As soon as the President (Trump) feels comfortable with the medical issues, we are making everything necessary that American companies and American workers can be open for business.” Secretary of the Treasure Steve Mnuchin stressed during a COVID-19 Task Force press conference recently.

While things might seem chaotic, health care workers, politicians, and business owners are all working to get the country healthy and back to business. For now, following CDC guidelines and staying home are the most beneficial methods of stopping the spread of COVID-19, getting employees back to work, and stimulating the economy.

Published April 25, 2020

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