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Ok, but how noteworthy is this really? I mean, what do people expect to happen when 90% of the human race stops going to work for multiple months? And in the US
by TechBro8615 7y ago
Ok, but how noteworthy is this really? I mean, what do people expect to happen when 90% of the human race stops going to work for multiple months? And in the US, the government has incentivized small businesses to furlough employees so they can collect unemployment benefits. I realize that was not Mnuchin’s intention, but it seems to be widespread in the service industry, for example. Because of this, unemployment data is unfortunately meaningless for the time being.
I’m optimistic we’ll see this elusive “V shaped recovery.” But we won’t have a clear picture of what this recession really looks like until people are allowed back to work and we can see what the unemployment numbers revert to.
That said, I’m also worried about downstream effects like changed habits after quarantine, and avoidance of activities like going out to dinner.