The US federal and state governments have implemented policies that have forced a large number of businesses to close temporarily. A business that is closed can't pay it's employees, so naturally it would have to lay them off.
If tomorrow we found a cure and got the all clear to return to life as normal, how many of the 3.28M would be re-hired immediately? What we need is a distinction between being laid off temporarily and being laid off permanently. That would give us a clearer picture of the real economic impact.
We need a new metric. The senate stimulus bill should have included a new classification and support for workers temporarily put on unpaid leave.
If tomorrow we found a cure and got the all clear to return to life as normal, how many of the 3.28M would be re-hired immediately? What we need is a distinction between being laid off temporarily and being laid off permanently. That would give us a clearer picture of the real economic impact.
We need a new metric. The senate stimulus bill should have included a new classification and support for workers temporarily put on unpaid leave.