Wearing masks could help boost economy
July 23, 2020
Wearing masks in public not only keeps people safe and healthy, but it also may save the U.S. economy over $1 trillion dollars in GDP loss. As states begin to open up and Americans head back to work, simply wearing a mask in the office could be prosperous for both the individual and the country. We spoke with economist Jim Rounds about the impact this could have on the U.S.
According to a recent study 100,000 jobs equals about half a billion dollars in state and local tax revenues over a year. Rounds says if we can shorten the duration of the pandemic by a year or half a year the state can fund important projects.
Two of the hardest-hit areas in the state according to Rounds have been tourism and universities. Both of which have lost millions of dollars during the pandemic.
Rounds recommends people to simply wear a mask so the state can get it’s economy up and running.