What could a post-COVID-19 economy look like?

What will the U.S. economy look like after the pandemic is over? An economics professor tells us what he thinks we can expect.

Posted: Mar 30, 2020 10:10 PM
Updated: Mar 31, 2020 9:56 AM

TERRE HAUTE, Ind. (WTHI) -- Many businesses in the Wabash Valley have had to shut down and lay off employees. That's something one local economics professor said could be an issue when things start to open back up.

"This is unprecedented. There is nothing in America that compares to the world going from just fine on the 1st of March, to the end of March being, 'oh my goodness'," Dr. Robert Guell, Professor of economics at Indiana State University said. 

With the coronavirus pandemic, many things are changing. Including how places conduct business and in turn, the economy.

"We're in that portion of the roller coaster that is going down at 60 degrees. We're just fine at the moment. Our refrigerators are stock full of hamburger meat because our grocery stores aren't, and our bathrooms are stuffed with toilet paper because our grocery stores aren't," Guell said. "And if we all went back to work tomorrow it would be like an unplanned vacation, but we're not going back to work tomorrow. We really don't know when we're going back to work."

The recent stimulus package is said to help the economy right now, but Guell said we have a long road ahead.

"Coming out of the Great Recession in 2008 was literally the slowest recovery in American history. It took until about 2014 to fully recover," he said. "If we have that kind of recovery, then I'm not convinced that this won't be a longer experience than we're hoping for."

Dr. Guell said a big problem we may see is the fact that a lot of people got laid off all at once and he doesn't think those people will get hired back as quickly as they got laid off.

Simply because we will see some businesses not in high demand like they once were and they won't need the same amount of employees.

Indiana Coronavirus Cases

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Confirmed Cases: 31715

Reported Deaths: 1984
CountyConfirmedDeaths
Marion9189533
Lake3299167
Cass15826
Allen127766
St. Joseph117034
Hendricks112367
Hamilton109992
Johnson1082104
Elkhart100827
Madison58258
Porter48721
Bartholomew48033
Clark45838
LaPorte40821
Tippecanoe3733
Jackson3611
Howard35618
Delaware35434
Hancock31927
Shelby31421
Floyd31338
Boone28235
Morgan26124
Vanderburgh2482
Montgomery22717
White2268
Decatur22431
Clinton2151
Noble18520
Grant18520
Harrison18521
Dubois1822
Greene16723
Warrick16426
Dearborn16221
Monroe16010
Henry1597
Vigo1477
Lawrence14322
Miami1391
Putnam1337
Jennings1274
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Scott1183
Ripley1126
Franklin1068
Carroll922
Kosciusko861
Daviess8216
Steuben792
Newton7410
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Wayne695
Fayette654
Marshall641
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Jasper561
Washington521
Fulton471
Rush452
Jay430
Jefferson411
Randolph403
Pulaski390
Clay391
Whitley392
Brown331
Sullivan321
Starke313
Owen311
DeKalb291
Perry270
Huntington262
Benton250
Knox240
Crawford230
Wells230
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Switzerland190
Fountain182
Parke170
Posey170
Spencer161
Gibson142
Ohio130
Adams121
Warren121
Vermillion90
Martin90
Union80
Pike60
Unassigned0152

Illinois Coronavirus Cases

(Widget updates once daily at 7 p.m. CT)

Confirmed Cases: 112017

Reported Deaths: 4885
CountyConfirmedDeaths
Cook730973324
Lake7723250
DuPage7207340
Kane5761152
Will5188258
Winnebago195351
McHenry142767
St. Clair99172
Kankakee79942
Kendall71419
Rock Island63622
Champaign5647
Madison53954
Boone39716
Sangamon33126
DeKalb3253
Randolph2593
Jackson22810
McLean21110
Ogle1922
Stephenson1902
Macon18819
Peoria1797
Clinton17716
Out of IL1641
Union1417
LaSalle14012
Whiteside13410
Iroquois1304
Coles1169
Warren1140
Unassigned1100
Jefferson10116
Knox940
Monroe9211
Grundy892
McDonough835
Lee771
Cass670
Henry670
Tazewell673
Williamson551
Marion500
Jasper457
Adams441
Macoupin411
Perry410
Pulaski400
Montgomery391
Vermilion391
Morgan341
Christian334
Livingston312
Douglas270
Jo Daviess270
Fayette202
Ford201
Jersey201
Washington180
Mason170
Menard170
Woodford172
Shelby161
Bureau151
Mercer150
Carroll132
Hancock130
Franklin120
Crawford110
Fulton110
Piatt110
Bond101
Brown100
Clark100
Cumberland100
Logan100
Moultrie100
Schuyler100
Wayne91
Alexander80
Henderson80
Johnson70
Massac70
Saline70
Effingham61
Greene50
Marshall50
De Witt40
Lawrence40
Richland30
Stark30
Clay20
Edwards20
Gallatin20
Hamilton20
Wabash20
White20
Calhoun10
Hardin10
Pike10
Pope10
Putnam10
Edgar00
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