According to Beaulieu, an economics cycle forecasting expert “The first quarter of 2020 will come with a slim growth rate but won’t go negative while by the second half of the year, the economy should regain momentum in U.S. growth.” There is much reason behind this conjecture. The first and foremost reason behind this is the trade disagreement with China. Tariffs on U.S. exports to China disrupted exports demand which eventually shrunk U.S. exports volume to China, left manufacturing and other sectors into a recession. Retaliate to U.S. tariffs on the U.S. export, China has levied bulk of tariffs amounting $110 billion.
Output growth in both countries braked down since the trade dispute, two years ago. However, the U.S. has been facing more worsen circumstances since then. In the U.S., the manufacturing PMI developed by the Institute for Supply Management revealed factories output diminishing since August. Retail services in both countries were on steady-state as no bigger enhancement was witnessed. Stock markets witnessed enlargement and record double-digit yield before it went into in-depth recession in mid-February this year. Job market demonstrates little improvement, accumulation number of additional payroll job creations but missed his target throughout the trade war period.
What is ahead?
Despite the anxiety of COVID-19 which is fast-spreading and held over half of the world, will not let the growth rate improve in the current year. Observing previous month statistics the forecast looks like dramatically. A presumption, that expecting enhancing growth in upcoming months as trade dispute is leveled, isn’t look realistic. The spreading of COVID-19 had spoiled and still aching world growth. Border protectionism due to COVID-19 fear, travel ban, stock markets collapse, energy dispute between OPEC plus and commodities market collapse have demoted world economic growth. Economist predicting a new phase of economic recession by the mid of the current year.
People are been fears COVID-19 and interdicted in their homes. This interdiction weakening consumer spending and output growth ultimately. Major cultural, social and financial events have been disrupted, where a further boost in unemployment is anticipated and this time may be more severe.
Hours cut or laid off of worker is a more common theme under the recessionary situation. Workers are fears of hours cut or completely layoffs. Under such condition, it is more imperative for workers to get information regarding their status of the job. Any hours cut or laid off will definitely make them in trouble. “LaborAlert” developed by Kiwi Application-LLC (play store URL: https://play.google.com/store/apps/details?id=com.labouralerts and app store URL: https://apps.apple.com/us/app/labor-alerts/id1113045391) provides an amazing platform to its user to get timely updates regarding the status of their job. This information is provided to the user prior to 60 days of any layoffs, plant closure, or complete shutdown.
Labor Alerts also provides filtered statistics for companies in a given State. This tool helps the user analyze layoff data from the past and follow trends as well as forecast how the employment situation may change in the future.
To summarize, the LaborAlerts application allows you to:
- Create company layoff alerts by simply searching for the company and tapping on their “bell” symbol.
- See what companies or states are the largest affected by the layoffs or closings
- Share through social media or text.
To get started, the application need only be installed and asks for no personal data on the user. Although the application is free to use, the following subscription criteria makes for several options to suit your needs.
Download LaborAlerts on the App Store
Download LaborAlerts on the Google Play Store
Sync your devices such as your phone, and tablet to have easy access to your account and the information on the application.