New COVID-19 Surge Will Affect Jobs

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By Douglas A. McIntyre Published
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New COVID-19 Surge Will Affect Jobs

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A new variant of the COVID-19 virus has quickened the pace of how fast the disease spreads. The BA.5 variant is the most common in the United States, according to the Centers for Disease Control and Prevention (CDC). It appears to spread at a rapid pace. While it has not caused an upturn in deaths, it has triggered a rise in hospitalizations.
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Dr. Bob Wachter, the chair of the Department of Medicine at the University of California, San Francisco, told NPR about the BA.5 variant:

Not only is it more infectious, but your prior immunity doesn’t count for as much as it used to. And that means that the old saw that, ‘I just had COVID a month ago, and so I have COVID immunity superpowers, I’m not going to get it again’ — that no longer holds.

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Add to this that the colder weather is not as far away as people might think. Fall and winter usually mean a sharp uptick in virus infections.
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If the government decides to reimpose many COVID-19 restrictions, the effect on jobs may look the way it has in other surges. Public-facing jobs, like those in restaurants, will suffer. So will employment in hotels. Surges also have led to job cuts at places people gather by the hundreds or thousands. Cruise ships and theme parks have been hit in the past two and a half years.
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The economy has reopened almost completely in the past few months. Many people believed that the threat of the disease had dropped considerably and that inflections had plunged below the critical line of 50,000 a day nationwide. The CDC currently estimates that numbers at 100,000 a day are too low because of a drop-off in testing.

COVID-19 is not done with the American economy.

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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