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[Report] SENEWS-2020-03-25

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[Report] SENEWS-2020-03-25

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[Homework]SENEWS-2020-03-25

Threeweeks ago, the  car service company, Empire  was heading toward itssecond straight years of its growing business. Empire, based in New Jeursy,could not find enough drivers and office workers to meet its needs. Now thecompany is on the edge of veliar. With extreme speed, business in the UnitedStates and around the world has collapsed in the face of the Coronovirus.People are told to stay at home. A car service, like Empire, is not needed.The company has had a 90% rever new loss in 3 weeks, said companychief David Zealinger, we 've been through 911. We've seen recessions.We've never seen anything like this.  Zealinger spent last Sundaytelling 750 of 900 employees, they no longer had a job. It was a mostdifficult day of my career, he said. Never before has an American companycome to such a sudden violent stop. The fall has shocked the Americans who hadenjoyed more than 10 years of growing job market and economy. Now the economyis headed toward a deep recession. Millions of people will likely lose theirjobs within a few month. The economy has never gone from healthy todisaster so quickly. said Jeason Fermen. He was former president Brook Obama's top economic adviser and is now a professor at Havard's Candidate School. What would take years in a financial crisis has happened in days in this health crisis. Fermen said. Since the Great Recession in 2009, the economy has risen for 11 years. Yearly growth has been at about 2.3% since 2010. Employers have added positions for workers for the last 9 years. Just 2 weeks ago, the government released a great employment report, again of 273,000 jobs in Feburary. Thecountry was experiencing a 50-year low in the read of unemployment, 3.5%. People  were buying goods, eating out and spending money in other ways too. Thinks were great. But all the things went away after 2 to 3 weeks after the spread of the Coronovirus in America. The investment bank and financial services company, Goldmentsacks, says,It is expected the economy to shrink at a 24% yearly rate between April to June. Days earlier, the company predicted to drop of just 5% during the same period. The information services company, RHS Market, predicts 7 million job losses from April to June. It expects that unemployment will rise 8.8% in the final 3 months of 2020.Some economists say it will go even higher. As investors began to understand the serious nurse of the crisis, they began to sell. Since Feburary 12, the duldge of industrial average is falling 35%. The market events have sharply reduced the family wealth and consumerconfidence. I'm not sure that anyone honestly has any sense of how this results, said Danial Feldmon, the former US embasserdor, adviser of large international companies for Washington D.C-based law form. Goverment officials are trying to help, sanctuel bank has cut its lend interest rate to almost 0. It is alsotrying to make certain that companies can use short-term credit, so that they can continue to pay employees. Congress and the White House are preparing large stimulous programs that includes giving money to citizens. Economists do not usually recognize a recession until long after it has begun. Now they can it coimg. ''Never have I known the week a recession started,''said Dianna, chief economist of the company, Rank Sorten. She says the downturn began in the first week of March, as the economy omit stopped. For now some Americans are working from home and keeping their jobs. Some of them may be saving money, which will help the economy later, explained Scotte Wooed, an economist at Modisks and Ladiks, if the future does not lookpromising, about 60% of American workers, 82 million people, are paid by the hour. Most would not be paid if they cannot go to work. I'm Jone Robens.
                                                   
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[Homework]SENEWS-2020-03-25

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Three weeks ago,the car service company Empire COF was heading toward its 2nd straight year of growing business.Empire,placed in New Jersey,could not find enough drivers and office workers to meet its needs.Now,the company is on the HF failure with extreme\'s feed business in the United States and around the world has collapsed in the face of the coronavirus.People are told to stay home.A car service by Empire is not needed.The company has had a 90% revenue loss in three weeks.Company chief David / ,we\'ve been through 911,we\'ve seen recessions,we\'ve never seen anything like this.Z/ spent last Sunday telling 750 of his 900 employees,they no longer had a  job.It was the most difficult day of my career,he said.Never before has the American econony come to such a sudden,violent stop.The fall has shot Americans who had enjoyed more than 10 years of a growing job market and economy.Now,the economy is headed for a big recession.millions of people will likely lose jobs within a few months.The economy has never gone from healthy to disaster so quickly said Jason F/ he was former president Barack Obama's top economic advisor.He is now professor at Havard's Kennedy school.What would take years in the financial crisis as happend in days in this health crisis F/ said.Since the great recession ended in 2009,the economy has risen for 11 years.Yearly growth has been added about 2.3% since 2010.Employers have added positions for workers for the last 9 years.Just two weeks ago,the government released a great employment report,a gain of 273,000 jobs in Feburary.The country was experienting a 50-year low in the rate of unemployment 3.5 %.People were buying goods,eating out and spending money in other ways too.Things were great.But all that went away after just a few weeks of this spread of the new coronavirus in the America.The investement bank and financial services company Goldmen / says it is / the economy to shrink by 24% yearly rate between April to June.Days earlier,the company had / of just 5% during the same period.The information services company IHS market predicts 7million job loses from April to June.It expects unemployment will rise to 8.8% in the final three months of 2020.Some economists say it will go even higher as investors began to understand the seriousness of the crisis,they began to sell.Since Feburary 12, the Dow Jones industrial average has fallen 35%.The market events have sharply reduce family wealth and consumer confident.I am not sure that anyone honestly has any sense of how this results said Danniel / the former US embassador advices large internaional companies for a Washitong D.C. based law firm.Government offcials are trying to help,the central bank has cut its bank interest rate to almost 0.It is also trying to make certain that companies can use shortterm credit.So they can continue to paying for it.Congress and whitehouse are preparing a large stimulus program that includes giving money to citizens.Economisits who not ususally recognize the recession untill long after it has began.Now they can see it coming.Never have I known the weak of recessions started said /.she is economist of the company /.She says the down turn begin in the first week of March,as the economy all that stop.For now ,some of Amecians are working from home and keeping their jobs.Some of them maybe saving money which will help the economy later explains spot quit on economists at /and /. If the future does not look promising,about 60% of American workers ,82million people are paid by the hour.Most will not be paid if they can not go to work.



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