Economic Recovery Pillars in USA Post Covid-19 (Essay Sample)

Economic Recovery Pillars
Students Name
Professors Name
Institution
Course
Date
Economic Recovery Pillars
While the coronavirus pandemic continues to spread, governments and emergency services focus on critical needs, including healthcare capacity, food relief, and protecting businesses and people from bankruptcy. Governments must stabilize financial institutions through central banks, pay vital personnel, and provide direct cash support to households(HAMMER and HALLEGATTE 2020).. Having completed this phase, several countries have entered the subsequent recovery phase, requiring substantial government intervention to stimulate demand, provide replacement income, and encourage new investment. Experts say the government should invest heavily in health care, technology, and construction. If the recovery phase is planned well, it can enhance a country's long-term potential and growth path, allowing it to thrive and be resilient.
Healthcare
The health care business supported the recovery from the 2008 financial crisis. In addition, from 2006 to 2016, the industry added 2.8 million jobs, which is over seven times the overall economic rate. In particular, the industry added jobs at a 20% faster rate than the broader economy (HAMMER and HALLEGATTE 2020). Similarly, between 2016 and 2026, healthcare employment is predicted to grow at an annualized rate of 18 percent, substantially faster than the general growth rate (HAMMER and HALLEGATTE 2020). As a result, making intelligent health care investments may help the economy quickly recover.
Technology
Between 2019 and 2029, computer and information technology employment are predicted to grow by 11 %( HAMMER and HALLEGATTE 2020). Cloud computing companies need more employees because of data volume and security concerns. If the federal government supports the appropriate projects in this sector, the economy may undergo a positive paradigm