![]() ![]() The personal saving rate ballooned to 33.7 percent in April of 2020 and has remained well above pre-pandemic levels ever since. And with fewer places to spend money during the pandemic, plus three stimulus checks, many Americans saved more than they might otherwise. Many jobs accomplished at a desk in an office are just as easily accomplished at a desk in someone's home. The country's gross domestic product (GDP), an estimate of economic activity across the U.S., has returned to pre-pandemic levels.īroad segments of the workforce have endured little economic hardship during the pandemic. In the short-term, that rise could reach into the double-digits. The Conference Board forecasts 9.0 percent growth in the second quarter and continued growth through the rest of the year. economy grew at an annualized rate of 6.4 percent, faster than the 4.3 percent rate from the fourth quarter of 2020. They seem to have worked to a large degree, leading to differing opinions on whether another stimulus check is necessary. Relief payments were intended to soften COVID's economic impact and support the economy in the process. The ARP checks followed closely behind the $600 payments from January, which came nine months after the $1,200 payments from the pandemic's early days. Since then, somewhere around 169 million people have received up to $1,400 each, accounting for most of the $422 billion set aside. The third round of relief payments started over three months ago, courtesy of the American Rescue Plan (ARP). That question still doesn't have a definitive answer. A fourth stimulus check would provide more government assistance. But over half of all states have cut off the federal unemployment bonus early or plan to. The federal eviction moratorium now extends through the end of July. Unemployment remains above pre-pandemic levels, and plenty of jobs have not returned. ![]() And many people's finances haven't improved. But the economic recovery has affected different people and different parts of the country in different ways. With the pandemic nearing its end and life returning to normal, the economy is rising once again. ( CBS Baltimore) - Multiple stimulus checks helped millions of Americans keep going during COVID.
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