The COVID-19 pandemic wreaked unimaginable havoc on America’s economy in 2020. Millions lost jobs, businesses were declared bankrupt and shut down, and most economic activities were brought to a halt due to the pandemic’s impacts. The Joe Biden administration is set to inherit an economy completely battered by the pandemic’s impact in 2020. It wouldn’t be wrong to say that America’s economic future was on the ballot back in November 2020.
Stepping into 2021, the pandemic is still with us. Despite having unveiled various COVID-19 vaccines, the pandemic impacts are going to be felt for longer than we would imagine. The ongoing economic recovery process is expected to take more time to attain the pre-pandemic levels. With the current state of America’s economy, there is a dire need for a good plan that will rescue the economy. The kind of plan America needs right now is beyond the stimulus bill signed into law by Mr. Trump towards the end of last year.
So, what kind of plan do we need? We need a plan that will put the pandemic situation under control to pave the way for an effective economic recovery. We also need a plan that will present more job opportunities to Americans equitably.
Fortunately, Joe Biden has a plan known as Build Back Better. The plan aims to create millions of ‘good-paying jobs’ to give America’s working families the tools, choices, and freedom they need to build back better. But wait, the pandemic situation needs to be contained. To achieve this, Joe Biden laid out a seven-point plan that will get the pandemic under control and allow an effective reopening of the economy. The plan aims to utilize advice from scientists and experts, fix personal protective equipment issues, and plan for effective and equitable distribution of treatments and vaccines, among others.
Currently, the American job market has suffered more severely during the pandemic period compared to the Great Recession. The American job market began to recover in May 2020 and lost momentum towards the end of the year, with economists predicting the unemployment rate rose to 6.8% between November and December 2020, marking the first increase in the unemployment rate since April 2020.
Joe Biden’s administration aims to combat the current job crisis in America by investing in infrastructure and green energy. According to Biden’s plan, this could help create employment opportunities in the long run, including one million jobs in the auto industry and 10 million clean energy jobs.
According to the plan, “More than three million people in the United States are already employed in the clean energy economy. But that is only the beginning of what is possible if we harness all of our talent and creativity. If executed strategically, our response to climate change can create more than 10 million well-paying jobs in the United States that will grow a stronger, more inclusive middle class enjoyed by communities across the country, not just in cities along the coasts.”
The plan further states that Biden will “launch a national effort aimed at creating the jobs we need to build a modern, sustainable infrastructure now and deliver an equitable clean energy future.”
With a new administration and a new plan, we look forward to things getting better socially, environmentally, and economically throughout the country.