Business

Economic Disruption: 4 Biggest Ones in the US Economy As Of 2022

Did you know that around 12,000 more businesses closed rather than opened in the United States in 2020?

More and more businesses are shutting their doors for several reasons, which are having a ripple effect on the economy.

If you want to get prepared for the future, you need to understand the current issues in our country. 

Continue reading to learn about some of the leading causes of disruption in the United States economy this year! 

1. COVID Pandemic

One of the largest disruptions to the United States economy has been the COVID pandemic.

Between closures due to high exposure and many people getting furloughed, we are still seeing the consequences. A lot of people lost their jobs at the beginning of the pandemic and unemployment has been increasing since. 

The pandemic has also stirred up a lot of chaos and fear, making people stock up on items and leaving none for the rest. 

2. Russian War

If you want to learn about one of the latest disruptions in the economy, you should look into the Russian war.

In an attempt to unite with Ukraine and provide support, our economy is seeing a setback. Many businesses are cutting ties with Russia and closing down shops, one of the latest hits is Mcdonald’s. 

This war is also causing issues with oil supply since Russia is one of the leading suppliers. Aside from the money and weapons America is sending overseas, the economy will also suffer in the store. Wheat products are becoming difficult to find since Ukraine couldn’t harvest them. 

3. Mass Resignation 

The mass resignation began in 2020 and is continuing to cause disruptions in the economy. 

Since the pandemic, people have been quitting their jobs, looking for something remote. Teachers are fleeing the schools in an attempt to better their lives and most businesses are working with skeleton crews. 

As more people ask for better wages and work-life balance and get them, the mass resignation will decrease. One woman trying to make a difference is Suzanne Clark, a member of the U.S Chamber of Commerce. 

4. Climate Change

Climate change is affecting the globe and making it difficult to ensure that products will make it to people’s hands.

Between tornados ripping up buildings or fire burning them down, mother nature is making her presence known. The rising sea levels have also impacted the economy as companies on the water need to relocate before going underwater. 

Climate change is diminishing produce and inhibiting truckers from transporting them on time. 

What Will the Next Cause of Disruption Be?

With all of the disruption in the world, it’s no wonder that the US economy is seeing some questionable days. 

Many people are concerned about a recession because of the Russian war in Ukraine and the fallout of the pandemic. Businesses are struggling to stay open since they lack the staff and can’t keep up with demand. 

The economy is an excellent indicator of where we have been and can help the US make adjustments. 

Be sure to check out our page for more content about managing small businesses and what influences your chances of success! 

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