4.6 million travel-related jobs to be lost because of COVID19
Call your Representatives and ask how they plan to bolster our economy.
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.
To see more content like this, help support Future Majority here.
Your Daily Round Up for February 28thGood afternoon. Here are the latest news and updates that our team at Future Majority is tracking. Another Saturday, another
#TrumpSlump Stresses Global MarketsWall Street Journal Reports: U.S. Stocks Fall on Fresh Trade Tensions U.S. stocks fall as a result of Trump's tweet saying he Infrastructure
Memo - How we got here: COVID-19 in the U.S.It’s hard to describe how events have turned in the past several weeks in the United States. What once seemed like a far-off