United States government reported that some typical Americans somehow become more richer than they were before the covid-19 pandemic. The credit of this directly goes to the government support towards families and businesses in 2020 and 2021. This support of government during and after covid-19 pandemic not only improved the situation of families and businesses but also the overall economy of the country.
The Federal Reserve’s informed that their latest comprehensive survey concluded that there is a high gain in the family incomes of most people from 2019 to 2022. All the reports of survey concluded that there is overall one-third gain in incomes of the families in these three years. This gain is very much benefited the people or families who were having highest net worth and high education previously. This gain in the economy is not only due to government programs but also rising stock market and soaring house prices had a crucial role in all this.
Government support to the families and businesses did more than the help demanded for boosting the economy of the country. But this demand led to be more resilient than all the past recoveries and the inflation rate of this recovery made fast economic growth and also laid down the unemployment rate nearly 50-years low.This strong economic is not a kind of an unsolved mystery but there is only one thing behind this economic growth and less unemployment rates that is the expansion of supply among the citizens. The supplies got expanded just because the bottleneck barriers in the supply chain got cleared that lead to smooth and fast supply of goods. This is not the real reason however the real reason behind this is the high demand of supply of goods that lead to more opportunities of employment that reduces unemployment rates and Americans are taking it as advantage and started chasing them.