A Lack Of A Nationwide Face Mask Policy Is Costing 5% of U.S. GDP

July 1, 2020

Wearing a face mask has turned out to be a hot-button issue in the midst of a worldwide pandemic. However a recent report from Goldman Sachs projects that a lack of a national policy mandating the use of facial coverings throughout the United States, is delivering an unnecessary hit to the domestic economy. Their finds suggest not requiring everyone to wear a face mask is causing additional business closings and shutdowns, which equates to a loss of 5% of the gross domestic product (GDP). The report also highlights various businesses voluntarily closing down because employees have been harassed and bullied by customers for enforcing mask-wearing protocols. The 11-page report comes as Florida, Texas, California and Arizona imposed new restrictions and rolled back their reopening plans as cases of COVID-19 have skyrocketed.  But even as these record-breaking cases are exposed, there is little uniformity about wearing masks inside states as well as a lack of a nationwide policy. This comes as the head of the World Health Organization, said this week that the pandemic is “not even close to being over.” The Centers for Disease Control and Prevention has expanded its mask guidance to say Americans should wear them in all “public settings when around people outside of their household,” but there is no mandate to do so.

SOURCE: MarketWatch

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