4.6 • 1.3K Ratings
🗓️ 18 February 2023
⏱️ 26 minutes
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Recent economic indicators point to a relatively healthy U.S. economy. That’s despite an economic slowdown caused by the pandemic, inflation, a wacky housing market, and fears of a recession. On Apple News In Conversation, Vox senior correspondent Emily Stewart breaks down how we got here and what government officials need to do now to keep the economy trending in the right direction.
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0:00.0 | This is in conversation from Apple News. I'm Shimita Basso today explaining this super weird economy. |
0:13.2 | Think about everything our economy has been through in the three years since the |
0:29.0 | COVID-19 pandemic first hit the United States. |
0:32.4 | The coronavirus outbreak has had a devastating impact on the jobs market. |
0:36.0 | We're seeing a slew of employee layoffs across major companies. |
0:40.0 | Over 118,000 people lost their jobs. |
0:43.6 | The coronavirus pandemic has left the future uncertain for new graduates. |
0:48.0 | Mom and pop shops, as you know, were especially hard hit and are struggling to stay afloat amidst the pandemic. |
0:54.3 | Over 200,000 Americans have died from COVID-19. |
0:57.3 | Unemployment has skyrocketed. |
0:59.4 | Civil unrest has gripped the country and there is growing concern about the upcoming presidential |
1:04.2 | election. |
1:05.2 | We're looking at the state of our supply chain and getting the products we need at the |
1:08.4 | grocery store. |
1:09.4 | In the grocery store, at the gas pump on the car lot prices keep rising. |
1:13.2 | The inflation rate soared to a 13 year high in May, |
1:17.5 | pushing the cost of living 5% higher |
1:20.5 | than this time last year. We've all felt it in different ways. |
1:25.0 | Whether you lost your job, or watched grocery prices rise, |
1:29.0 | or your retirement plan tank, |
1:31.0 | or waited for the housing market to not be so awful. |
1:36.4 | And yet the big bad economic markers of recession technically haven't happened. |
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