America’s pandemic economy: Little news and big news alike, it’s pretty sad right now

Just last week, I was thinking about how nice it will be to once again grab a late lunch and spend part of the afternoon working at the Pret A Manger cafe in Boston’s Downtown Crossing. For a downtown, high-volume chain eatery, it had a homey and comfortable feel to it. Once the business lunch hour crowd had dissipated, I was usually able to find a table to enjoy my food and get some work done, with laptop or tablet at hand.

My typical lunch fare was one of Pret’s egg salad sandwiches and a cup of lentil soup, with a coffee or an iced tea for a little mid-day boost. If I was there for a snack only, I’d often opt for one of their chocolate chunk cookies, truly one of the best I’ve ever had. Only minutes from my university office, it was a pleasant place to be productive, and the staff was always friendly and efficient. During recent years, I spent many hours there.

But earlier this week, the company announced that it is closing all of its Boston locations. As reported by Erin Kuschner for Boston.com (link here):

London-based café chain Pret A Manger has closed all of its Boston locations as it announced plans to restructure its business model as a result of COVID-19.

In a statement shared with Boston.com on Wednesday, the company revealed that U.S. sales were down by 87 percent year-over-year due to the pandemic, and that it had made the decision to close 17 outposts across Boston and Chicago….

When it comes to the state of the American economy, it’s all pretty much the same, on smaller or larger scales. The impact of the pandemic on the national economy has been terrible. As Scott Horsley reports for National Public Radio (link here):

The coronavirus pandemic triggered the sharpest economic contraction in modern American history, the Commerce Department reported Thursday.

Gross domestic product — the broadest measure of economic activity — shrank at an annual rate of 32.9% in the second quarter as restaurants and retailers closed their doors in a desperate effort to slow the spread of the virus, which has killed more than 150,000 people in the U.S.

The economic shock in April, May and June was more than three times as sharp as the previous record — 10% in 1958 — and nearly four times the worst quarter during the Great Recession.

The numbers are horrific, but the individual stories behind them are even worse. They’re about jobs disappearing, businesses closed, and everyday pleasantries gone. The heartache is significant. The damage done in roughly five months is breathtaking. And here in the U.S., we’re not through it yet. We’ve got our work cut out for us.

 

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