As Joe Biden takes his first steps as president, the US economy faces various obstacles. On the one hand, the coronavirus infects tens of thousands of people every day; on the other hand, employers are dealing with new restrictions related to the pandemic coming from state and municipal governments.
Back in 2019, the US unemployment rate was the lowest in the past 50 years – 3.6%. However, in March it rose to 4.4%, and in April it reached 14.7%. In January 2021, the US economy lost 140,000 jobs in a single month. However, the number of people who have lost their jobs can be significantly higher than the unemployment figures show because many people did not seek work after being fired. Even though the number of people losing their jobs is decreasing, there is still a question of what to do if you urgently need the money and state financial aid for unemployed people is not enough. Can one take a loan without a stable income?