Is There an Economic Recession in the United States During COVID-19 from the Perspective of Employment Factor?

Abstract

In the period of 2019-2020, the economies of all countries have been affected to some extent, with higher unemployment and lower consumer inflation. This paper takes the United States as an example to analyze whether there will be an economic recession in the United States during 2019-2020 from the perspective of unemployment rate and the impact of this recession. In addition, this paper also uses the fitted matched text was also used to test the hypothesis, and it was found that the same trend did appear in the United States during Covid-19 and the recession of 2008. In addition, this paper also gives some suggestions on how to react to this trend in the United States. The study suggests that during the economic recession, the government should not only maintain good inflation rate to stimulate the economy to avoid hyperinflation, but also avoid falling into the trap of low inflation rate.