U.S. now has 22 million unemployed, wiping out a decade of job gains
Layoffs are growing in almost every industry as businesses have had to shut their doors to keep the spread of COVID-19 at bay. Many companies that are open report an immense loss in sales.
Layoffs are growing in almost every industry as businesses have had to shut their doors to keep the spread of COVID-19 at bay. Many companies that are open report an immense loss in sales. Research by Associate Professor of Economics Alex Bick and his co-author shows the immediate effects this is having on the economy.
In this story published April 16, 2020, on The Washington Post:
Two economists say the U.S. unemployment rate is already over 20%, according to Alexander Bick of Arizona State University and Adam Blandin of Virginia Commonwealth University who are tracking the data in real-time. It is expected to remain close to 10% through the end of the year, meaning 1 in 10 people would still be out of work at the holidays, the National Association for Business Economics says.
Latest news
- Why does online shopping make me feel like absolute crap?
The uncertainty of online shopping can result in frustration, says an ASU marketing expert.
- Lab lessons: Modern Grind brews up expansion with help from ASU
Avondale's coffee, tea, and health drink drive-thru partners with the SMB Lab to empower…
- Lab lessons: Roadcase.com VP shares how ASU's SMB Lab fueled growth and efficiency
The Arizona-based audio/visual equipment case manufacturer gets expert guidance on improving…