U.S. Economic News
April 20, 2021
U.S. News
The Wall Street Journal reports that many economists expect the recovery of economy activity to outpace that of payrolls, potentially causing bottlenecks and pressure on wages and prices. Although job openings currently exceed pre-pandemic levels, employers may be reluctant to hire until consumer demand has recovered, while workers who dropped out of the labor force during the pandemic will take time to return. WSJ
The New York Times reports that the federal government is preparing to open two new relief programs targeted at small businesses in the live-event and restaurant industries, as the larger Paycheck Protection Program nears its end next month. Both programs offer recipients in the struggling industries grants of up to $10 million to replace lost sales, but funds are expected to run out quickly – the Restaurant Revitalization Fund, for example, may see $120 billion in applications for less than $30 billion in available funds. NYT