According to economics professors from the Texas A&M University College of Liberal Arts, the rollout of COVID-19 vaccines is the most important step toward healing the United States’ economy and returning it to its pre-pandemic state.
“Vaccines are absolutely, 100 percent the answer to economic challenges imposed by the pandemic,” said economics professor Jonathan Meer said. “The only way to get back to normal life, to have people doing the things they want to do, spending money on the things they want to spend money on, to have businesses being able to hire the way they want and serve people the way they want, is with vaccines.”
Per the National Bureau of Economic Research, the U.S. employment rate and gross domestic product (GDP) at the end of 2019 were at their highest recorded levels since 1854. Less than two months later, with the official announcement of the coronavirus pandemic, employment declined 85 percent and the GDP to 90 percent, shutting down the economy and causing the unemployment rate to skyrocket.