There are many factors that still hold true despite the Corona Virus lock down , including a strong jobs market and strong stock market .
• Strong Jobs Market – People ( employers and employees ) are eager to start work after being cooped up selfisolating for so long . Similarly , the employers looking to fill positions before the lock down are still looking to fill positions . Also , many of the people who could not work during the pandemic are basically on hold , and will be back at their jobs once the COVID19 situation clears up . We saw a pretty fast bounce back with the first reopening , and it will things will bounce back again once the coast is clear of COVID19 in this second wave .
• Stock Market Strong – The stock market is still strong , and did not suffer a meltdown as a result of the pandemic . Most importantly , people ’ s retirement funds are secure and confidence in the economy to go back to work is stable . This may largely be a product of unprecedented government and centralbank support , and a lack of compelling alternatives to equities .
Going Forward
MORE JOBS AND ECONOMIC STIMULUS COMING !
• USMCA Trade Deals Just Took Effect July 1 The new United StatesMexicoCanada Agreement ( USMCA ) is a mutually beneficial win for North American workers , farmers , ranchers , and businesses . This will create more balanced , reciprocal trade that supports highpaying jobs for Americans and grows the North American economy .
• Huge Infrastructure Investments – The Trump administration is preparing an up to $ 1 trillion infrastructure package focused on transportation projects such as roads and bridges and 5G wireless infrastructure and rural broadband . All infrastructure improvements have the added benefit of creating secondary and tertiary jobs that support the initial infrastructure jobs .
• Elimination of Payroll Taxes Likely – President Trump is pushing to eliminate payroll taxes . This should boost the economy by putting more money into the pockets of Americans resulting in higher spending for goods and services , speedier repayment of debts , and a faster return to normalcy . This amounts to slightly higher real wages for workers at no higher cost to the employer .
Image by Mediamodifier from Pixabay
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