Observe The Economic Fallout Six Years Later – OpEd
Many people want to be done with Covid lockdowns as a topic. The trouble is that Covid lockdowns are not done with us. Nothing like this had ever been tried in real life, a forced stoppage of most human activity as it affects the material and social world. The impact would be far reaching, long lasting, and devastation – one of the more significant calamities of modern times.
Prevailing economic weakness and resulting stagnation for living standards is only one result. It’s nowhere near over.
The Friday, March 6, 2026, jobs report from the Bureau of Labor Statistics was far more grim than anyone expected. Employers shed 92,000 positions for the month as the unemployment rate ticked slightly higher to 4.4 percent. December and January jobs growth was revised down by 69,000.
The more alarming fact (which you can peruse at B-1) is that these losses were unconstrained.
In addition to health-sector sector losses, we have:
Leisure and hospitality: Down 27,000 jobs, including accommodation and food services down 34,700, indicating ongoing weakness or contraction in consumer-facing services.
Transportation and warehousing: Down 11,300 jobs, with couriers and messengers seeing a steep drop of 16,600.
Information sector: Down 11,000 jobs, including movies and sound recording industries down 9,500.
Administrative and support services (within professional and business services): Down 14,300 jobs, signaling problems in business support.
Manufacturing: Down 12,000 jobs (with nondurable goods down 8,000).
Construction: Down 11,000 jobs.
None of these sectors had fully recovered from the body blow of 2020, as small businesses were forcibly shut and large businesses shot up their employees with an experimental potion. All enterprises have struggled ever since. But with high tariffs and soaring costs of health insurance........
