4.6 million travel-related jobs to be lost because of COVID19

The Washington Post Reports: U.S. economy expected to lose 4.6 million travel-related jobs this year from coronavirus fallout

The coronavirus has taken its toll on the US economy, with the US expected to lose 4.6 million in travel-related jobs. This would be an $809 billion blow to the economy.

Furthermore, 4 million jobs have been eliminated already or are on the verge of being lost in the next few weeks, the American Hotel & Lodging Association said. In some of the hardest-hit markets — such as Seattle, San Francisco, Austin and Boston — properties are shutting down and occupancy rates are at unprecedented lows.

Total spending on travel in the US is expected to drop by $355 billion for the years. This is more than 6x the impact of the Sept 11. 2001, terrorist attacks. On its own, the travel-related job loss would almost double the US unemployment rate.

The travel industry is joining airlines and casinos in calling for a government rescue. On Tuesday, Treasury Secretary Steven Mnuchin said that the Trump administration wants to send direct cash payments to Americans in the next two weeks as part of a giant economic stimulus package in planning between Congress and the White House. The overall price tag of the package could be around $1 trillion.

Our government needs to step up and work together to develop a package that will save our economy. Americans' lives depend on it.

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