The Delta variant just squashed the economic boom you were dreaming about all summer
. Weaker spending puts small businesses back in jeopardy, and prospective homebuyers could have a tougher time making a down payment as new risks cloud their financial futures.The data are harrowing reminders that, so long as the virus poses a threat, the economy isn't likely to rebound. Daily COVID cases soared to their highest levels since January last month as the Delta variant spread across the US.
The present-day outlook is far bleaker, and it stands to worsen before it improves. The job report's survey period ended about halfway through August, and virus cases have climbed higher since. The latest hiring data shows"just the start of the Delta hit," and returning to million-per-month job creation in the fall will now be a"real struggle," Ian Shepherdson, chief economist at Pantheon Macroeconomics, said Friday.
Separately, vaccination reaccelerated through July and August after sliding from the faster spring pace. The US is vaccinating nearly 1 million Americans each day on average, roughly double the rate seen in early July. While vaccination doesn't guarantee people won't catch the Delta variant, it's proven to dramatically decrease the chances of COVID-related hospitalization or death.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Biden to discuss plan to curb Delta variant on Thursday -officialU.S. President Joe Biden on Thursday will discuss a six-pronged strategy aimed at stopping spread of the highly contagious Delta variant of COVID-19 and increasing vaccinations, a White House official said on Tuesday. (This story corrects to say Tuesday, not Monday)
Read more »
COVID spread, fueled by Delta variant, accelerating in these U.S. statesData shows that while the rate of new cases is falling in some states, others are seeing a significant rise.
Read more »
What to watch today: Wall Street looks steady after last week's delta-driven Covid concernsU.S. stock futures were flat Tuesday after a much weaker-than-expected August jobs report weighed on Wall Street on Friday.
Read more »
Spanish-language Covid disinformation is aimed at Latinos as delta surgesSpanish-language disinformation on Covid-19 on radio and social media continue to give false information against vaccines and masking amid the delta surge.
Read more »
Air travel sees sharp decline as delta variant continues to derail vacation plans“The summer travel boom is at risk of stalling out as we move into fall,” said one travel expert.
Read more »