According to an analysis done by the nonpartisan Congressional Budge Office an increase in the US minimum wage from $7.25 to $15 being proposed by US President Joe Biden will result in the loss of 1.4 million jobs.
How are you doing this year? Did you see all these changes coming, in 2020? I didn’t. It’s clear to all of us that things are still changing. Everyone I know does not like the restrictions with the COVID pandemic, and we wonder when things will be normal again. That will be never. Disruption to our lives, and the cost of coping with COVID restrictions is forcing businesses, employers, to close; and they might never re-open. The world has changed forever. READ: Covid-19 will permanently change the world’s economy So, what does that mean to us? What happens when my life changes, and keeps changing? What will happen to you? This is not an abstract economic theory, this is a permanent change to the way we live, and it has already happened. Soon we will see and feel the effects. I work at a job that I really enjoy, and in a few days it will all be over. I can’t tell you what it is until the work has stopped because I work under …
With several states moving to end the lockdowns associated with the Coronavirus, economists have been caught off guard by how quickly the American economy is coming back.
Both US and Canadian economists are shocked by how quickly the economy is recovering, as both countries transition out of their lockdowns.