As a result of the coronavirus pandemic, countries across the world have suffered economic losses. Owing to the pandemic, many companies had to shut down.
Lockdown has been implemented all over the globe to suppress the virus. Its spread was unexpected and uncalled. As a result, every government has taken measures to do what they felt best.
The closure of businesses has been a big blow to the economy. It affected the government greatly as they began paying small loans to small companies to stay in operation.
Many companies are among the petitioners and politicians who asked US Supreme Court to lift the lockdown. According to the court filing, the order’s effects had a great deal of negative impact on companies. If no other choices are selected, and no further action is taken, many other companies will be affected.
However, the Supreme Court of Pennsylvania had dismissed the challenge to Wolf’s order.
Again, this week, millions of people across the US have applied for unemployment insurance to support their families.
The pandemic continues to impact households and the global economy. The total number of cases protected for this was up to 4.4 million US dollars.
Wolf said that the government’s decision is the most sensible choice that could have been taken.