Stock market blog

Stock market blog
Sarah Laskin

The coronavirus epidemic has made the world’s economy change drastically in a short period of time. Because of the corona epidemic, citizens have to stay 6 feet apart at all times and wear masks. Healthcare and safety has hit all major countries hard, affecting production of all goods and services. 
The coronavirus started in China, a top producer of goods due to the cheap labor laws and not as many safety laws. It spread quickly, especially in rural areas due to lack of education and prevention techniques. Then, once it hit factories it spread even further and eventually globally due to infected goods being sent out from compromised workers. 
The price of oil has dropped drastically since the outbreak, and gas prices followed in suit. Some market analysts predict gas prices to go down to as low as 1.25/gallon. 
Now, our workforce has to change drastically to compensate with the health regulations. Stores and gas stations have tape on the floor to make sure customers stay 6 feet apart, and they have clear dividers between cashier and customer in an effort to prevent the spreading of germs. Companies that produce goods are modifying their machinery to produce masks, gloves, and hand sanitizers, all of which are in high demand. Not as many people are working, blue collar jobs are limited because people have to stay farther apart. 

As someone who works in the restaurant industry, I firsthand see how it affects lower income people. I haven’t been able to work since the virus hit, and only a few people work a given shift as they are no longer needed since they only do take-out. While the business itself still has a steady flow of customers, the workers work less hours which can be a huge problem considering many of my co workers were living paycheck-to paycheck. Many people are in this situation, leaving many jobless or with heavily reduced hours. 

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