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Omicron cases declined by more than 90% in the past 5 weeks
Finally, some good news has arrived: Investors’ sentiments are high, for sure, after recording high cases estimated at more than half a million in the past two months. According to the US health office, the number of people infected fell by more than 90%. In February, U.S. health officials and hospitals had a record of about 84,000 daily COVID cases. That is relatively low compared to December and January case numbers. In the past two weeks, the U.S. had an average of 800.000 daily cases. That led to more worrying problems, including labor shortage issues.
The most recent date was raised and confirmed by John Hopkins University, and the university report also stated that Omicron cases have dropped by 90% in the last 40 days since January 15. Investors are hoping this development will help in the stock market’s research because it indicates a strong labor force comeback. Furthermore, the COVID case declination is a national state with an average of 40% in all regions.
Compared to January 1, when there were about 160.000 patients in U.S. hospitals. In the past few weeks that number fell to 66,000 patients in hospitals. As we know, the hospitality department was suffering from a work shortage when workers from the force quit their jobs in high numbers for health reasons. Not only in this sector, but other sectors have seen the same problems. Including manufacturing, restaurants, utilities, and more.
White House officials have welcomed this positive news and stated that it means the United States is on the right track. However, they must work on improving that percentage even more. According to Jeff Zients, White House COVID response coordinator, despite the positive news and the massive decline, investors are showing their worries about the new Omicron Subvaraint BA-2.
Economists are afraid of repeating last month’s scenario, when Omicron variants affected all major industries, including tech stocks, the Fortune 500, and the Dow futures.
The future of the workforce
Looking back a year, things were not the same, and they will not be even if the workforce re-joins; in fact, this will be one of the most difficult challenges following the pandemic retreat. The economy can’t take another surge or COVID cases in light of recent events. The tension between the United States and Russia is increasing by the day. There has been talking about cutting supplies to Russia as a response to its recent actions. Globally, factories and industries are experiencing a severe labor shortage, resulting in global inflationary pressure.
Now, companies and employees have one of three options to deal with the labor shortage. First, inviting everyone to return to their work, using a remote approach like Amazon and Google did, or adopting a hybrid model.
For the hybrid model, the US executives are looking for new inventions to support hybrid working. However, this approach will rely more on technology and the sector. The hybrid model will help the technology sector to recover because of the importance of technology to its success. Companies in the United States want to use 70% of their IT infrastructure to secure virtualization. 72% of their tools to improve virtual collaboration and 50% of their capabilities for Hoteling applications and more.
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