Plus, retailers compete by increasing health and safety measures to attract customers. And, despite positive vaccine news this week, oil demand could be a long way from returning to pre-pandemic levels.
The still-elevated number of unemployment benefits applications shows that eight months after the pandemic flattened the economy, many employers are still slashing jobs.
And, Diane Swonk, chief economist at Grant Thornton, says the real issue is that “we’ve got people literally running on fumes.” With no additional coronavirus relief from Washington in sight, “a fiscal cliff is lurking at the end of December,” when benefits run out and the moratoriums on evictions run out.
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