In this post, I wanted to take a look at where we are on the road to recovery from the pandemic here in the U.S.
Here’s some notable data points related to covid-19:
- Over 25% of the US population has been fully vaccinated.
- Nearly 40% has received at least one dose.
- Unfortunately, we are still averaging about 670 deaths per day, but that number is getting smaller and is much improved from the 3,000+ deaths we were experiencing on a daily basis at the beginning of this year.
- All adults across the country are now eligible for the vaccine.
As a result of our progress in getting people vaccinated, local and state governments have begun easing restrictions on travel, gatherings, and businesses, particularly in the food/beverage and travel/entertainment industries. And it seems like everyone is taking advantage of this return to normalcy. It is very hard to get a parking spot to go to the beach near me or to get a reservation at a restaurant or a hotel in the Charleston area. Also, on a recent trip I made to Arizona, the planes were packed to capacity and I was hearing the oversold announcements for flights once again!
This increased activity has had some negative consequences for the consumer: higher prices, particularly for gas, air travel, and hotels. But I don’t think anyone is complaining right now after this last year in isolation.
Most businesses are implementing a plan to transition back to working in the office, at least for some personnel. Schools are planning to return to normal, in-person classes in the fall. Sports and entertainment venues are planning on full spectator attendance as well. Case in point: I am going to see a bunch of 80’s hair bands in Nashville this summer in a packed Tennessee Titans’ stadium in Nashville. However, you may need to be vaccinated to attend. For example, the Buffalo Bills and Buffalo Sabres are allowing full attendance this fall but you will have to show proof of vaccination to get in.
The rest of this year will be very interesting as we try to return to somewhat normal lives and routines. But the progress that we’ve made so far is very promising.
Let me know if you have any questions!
Joe Baker, CFP®
Baker Asset Management, LLC
joebaker@bakerassetmanagement.com
