At This Point, All of Our Jobs Might Be At Risk
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- It's clear by now that the pandemic economy won't isn't just affect those in the restaurant and travel industries.
- Aside from General Retail businesses, like Amazon or Walmart, every sector or sub-sector of the economy either shrank or stayed the same in April. The American economy is shriking across the board, and the recovery is unlikely to be a short-term rebound.
- Somehow, in the middle of the pandemic, even healthcare employment fell by more than 1 million jobs. (It's because Americans were only going to see doctors for emergencies -- no check-ups, no orthodontists, etc.)
- This scale of lost income will translate to less demand for all types of goods and services for months, and perhaps years. This, in turn, keeps the economic rebound slow, limiting hiring, pay raises, and expansion.