Rehired Workers Get Axed As States Pause Or Reverse Reopening | Zero Hedge
Wall Street opened higher on Wednesday as optimism flourished following a positive COVID-19 vaccine headline (one of many we’ve seen in the last several months). It appears the hope and hype of vaccine headlines and President Trump’s pumping of a V-shaped economic recovery could be in the latter innings as confirmed cases surged across the country as governors are pausing reopenings.
On Tuesday, more than 48,000 confirmed virus cases were reported across the US. Most of the cases were centered in these states – Arizona, California, Georgia, Idaho, Oklahoma, South Carolina, and Texas.
Dr. Anthony Fauci told Congress on Tuesday that confirmed virus cases could spike to 100,000 – now resulting in some states to press the pause button or even reversing reopenings.
Many of the states pausing or reversing reopenings are across the Sun Belt region. The emergence of the virus is due to Memorial Day parties.
Bloomberg notes reversing of planned reopenings could spark the next wave of layoffs, adding that newly hired workers are getting the ax once again.