4 ms·
If you believe the conclusion that 50% of small businesses don't have cash reserves for a month(https://news.ycombinator.com/item?id=22719981 https://news.ycomb
by 01100011 7y ago
If you believe the conclusion that 50% of small businesses don't have cash reserves for a month(https://news.ycombinator.com/item?id=22719981 https://news.ycombinator.com/item?id=22719981), and ~50% of Americans with jobs work for small businesses, it's not far fetched to think that 25% of people will soon be unemployed. Add in the people working for larger firms, like travel and vacation related firms, and you can easily get to 30% unemployment.
- gullyfur 7y agoSeveral businesses near me immediately announced on social media they were permanently closing for business, the moment the lockdown was announced. They must have been struggling prior to the lockdown and knew there would be no way to recover.