Amid new tri-state COVID-19 restrictions, what would a nationwide shutdown mean for our economy?
This morning, in the New Normal show, News 12's Elizabeth Hashagen was joined by economic development consultant and CPA Marty Cantor to take a closer look at the weekly unemployment numbers, and at what a nationwide shutdown would mean for our economy.
The number of people seeking U.S. unemployment benefits fell last week to 709,000, a still-high level but the lowest figure since March and a sign that the job market might be slowly healing. Cantor speaks about the new numbers:
Dr. Michael Osterholm, a member of President-elect Joe Biden's COVID-19 task force, says the next three to four months will be the darkest period of the pandemic for the U.S.
He says a nationwide shutdown would drive the number of new cases and hospitalizations down to a manageable level, and bring the economy back, while the world waits for a vaccine.
Marty Cantor on what a national shutdown would do to the economy
Cantor disagrees that a national shutdown would lead to a better economy. Below is what else Cantor has to say about the economy:
Tri-state officials are bracing for a new wave of coronavirus infections with renewed restrictions on bars and restaurants, gyms and indoor gatherings. Cantor speaks about how the economic growth during the summer months will be affected by the surge in COVID-19 cases this fall:
Talking about the business owners - Hashagen asked Cantor, where is the light at the end of this tunnel? Below is what he had to say:
Click on the video below to watch the full New Normal show: