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Many Americans are recovering from the recession that began in March 2020 due to the COVID-19 pandemic and forced business closures by state and local governments. The economic expansion that began in the second half of 2020 continued in the first quarter of 2021 as many of those governments removed or reduced restrictions on the private sector. However, employment has slowed lately as some governments are still imposing restrictions and the federal government continues giving unemployment ‘bonuses,’ causing many people to choose unemployment over work. This has created a record number of 8.1 million unfilled job openings. Nevertheless, the economy is still growing, and more pro-growth policies should be implemented to support the tangible prosperity experienced until March 2020. More in the brief below: https://www.texaspolicy.com/an-insiders-insight-on-todays-economy/www.texaspolicy.com/an-insiders-insight-on-todays-economy/ Texas’s economy continues improving from the challenges of the COVID-19 pandemic and forced business shutdowns by government since spring 2020. This includes robust job creation in March 2021 as state restrictions ended on March 10, which should further improve economic growth and job creation this year. To help overcome the challenges still facing many struggling Texans and the assault on prosperity by those in D.C., Texas should commit to the Foundation’s Responsible Recovery Agenda. More on the data and how Texans can get back to work as quickly and safely as possible ⬇️ Many Americans continue recovering from the recession that began in March 2020 due to the COVID-19 pandemic and forced business closures by state and local governments. The economy had expanded in the second half of 2020 as many of those governments removed or reduced restrictions on the private sector. However, the growth stalled a little at the beginning of 2021 as many governments re-imposed restrictions as cases and hospitalizations spiked. Fortunately, those governmental restrictions have been reduced again and the economy looks to have picked up, helping Americans regain the tangible prosperity experienced until March of last year. We need more openings and pro-growth policies to let people prosper. Texas’s economy continues improving from the challenges of the COVID-19 pandemic and forced business shutdowns by government since spring 2020. More on the data and how Texans can get back to work as quickly and safely as possible ⬇️  Many Americans are recovering from the economic destruction that started in March 2020 due to shutdowns by state and local governments in response to the COVID-19 pandemic. The economy has improved, but the pace has slowed because of increased restrictions by many state governors making it more difficult to regain the tangible prosperity experienced last February. I highlight data on economic growth and employment and provide pro-growth policy recommendations to help quickly recover. More on the data ⬇️  The Texas economy continues recovering since the steep downturn due to the COVID-19 pandemic and business shutdowns by state and local governments in spring 2020. Tailwinds could be strong in 2021 if the government removes restrictions and follows responsible fiscal policy so people are free to live and earn money. The Texas economy has continued to recover since the steep downturn due to the COVID-19 pandemic and shutdowns by state and local governments in March. The partial reopening of most non-essential businesses has been a key part of that recovery, but the rise in COVID-19 hospitalizations has contributed to increased capacity restrictions that have slowed economic activity. https://www.texaspolicy.com/texaseconomy/  Many Americans are recovering after the economic collapse that began in March due to the COVID-19 pandemic and shutdowns by state and local governments. While the strength of that recovery has weakened, a sound policy approach will help support a safe, expedited, and less debt-riddled rebound so Americans have more opportunities to prosper. https://www.texaspolicy.com/the-ginn-economic-brief/ |
Vance Ginn, Ph.D.
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