Prayer #14: For the Economic Effects of the Coronavirus
The Coronavirus has had a devastating effect on the economy of our nation, and around the entire world. Due to the mandatory shutdowns of non-essential businesses, millions of people are out of work. Some are able to work at home, but many have simply been laid off. Some estimates are as high as 13% unemployment, though this is by no means an official number. However, it is clear that the longer this goes on, the worse the effect on the economy will be, and the longer it will take to recover. Presently, the Dow Jones is down more than 9,000 points since when this crisis began. Congress has passed a 2.2-trillion dollar stimulus package called the CARES Act, the largest financial support package in U.S. history. Included in that package is the 3.49-billion Payroll Protection Program, which provides forgivable loans to small businesses, up to 500 employees which will cover up to 2.5 times the annual payroll and benefits of each business that applies (covering the period from Feb. 15 - June 30, 2020). The loans will be forgiven if, at the end of this 2-1/2-month period, the business has the same or more number of employees. This will help to encourage businesses to keep their employees.
We do want to pray for the economy, which has been so severely impacted by the Coronavirus. Pray for the survival of the many businesses which have been shut down or greatly hampered by the closure orders in most of our states. Pray for these Payroll Protection Program application processes and the approval and delivery of these loans to go through quickly. Pray for a strong recovery of the markets as well. Pray especially that God would provide for those with little or no savings or resources to weather this troubling economic period.
Gen. 22:14 "The LORD will provide." (Jehovah Jireh---one of the eight Jehovah names in the Old Testament)