The Fed’s latest interest-rate slashes have done slightly to halt the crash of the stock. The stocks that were touched the record tall in the first month of the present period; were collapsed over 20 percent since mid-February. The recent interest rate slashes have provided little support to stocks is not sufficient and more effects are mandatory to tackle the long-term recession. Once the disaster is passed, there’s a great chance of uneven recapture with sluggish output growth and accelerating prices level and inflation. Such a situation where high employment rate, led by low output and the high price level is known stagflation. Inflation was little controlled until the middle of last year, when consumer prices rising below 2 percent in January 2019. CPI inflation has mounted progressively over the previous six months, from an annual rate of fewer than 2 percent to nearly 2.5 percent.
The COVID-19 disaster has formed a perfect blizzard. In addition to the health significances and human costs, it is carrying to a serious economic downturn. On the one hand, by stopping workers from work, disordering supply chains, which is a huge jolt to output. Likewise to an oil price jolt or any natural tragedy, the inadequate supply of workers and output will generate inflationary gravities. On the other hand, the requirement for social separation has led to the annulment of enormous festivals, shrunken the travel and transportation industry, and shut commerce, cafeterias, and shopping centers. These isolation measures leading to a bulky negative demand jolt.
The pandemic damages the economy in three elementary ways. First, domestic and international supply chain failures due to COVID-19 spreading fears. International supply chain failures placed the output under pressure. The plunging move in demand for exports placed many assets idle. Secondly, COVID-19 directly distresses the workers by infection. However, so far this is a tiny impression. COVID-19 spreading fears amongst the masses lift the domestic demand under density. The third and major influence to date is the consequences of isolations, travel and transportation limitations, and hotel, restaurant and store closures.
The immediate increase in the unemployment rate leaves worker’s incomes limited by job loss or profit loss. Under such conditions, when people’s pay is inadequate, consumers spending and demand contracts. The shift in demand will forces producers to diminish supply leaving some labor and plant idle. Again such idleness will drop income and collapse aggregate demand further. This situation will become worse if there is a drip in output, led to more unemployment and a high price level. Under such a situation, aggregate welfare diminishes and resources are under-employed.
Labor, the imperative input, is either cutback or laid-off during the recession. Workers from each industry required timely information regarding their present and future employment. “LaborAlert” a smartphone-based application 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) provided such information to its user, prior to 60 days during any downturn or complete shutdown, layoffs, hours cutback and plant closure.
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.