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The number of jobs lost since the start of the pandemic hit 39 million this week, said Eric Morath at The Wall Street Jour*nal, and economists and policy*makers are asking how many will come back. A month ago, 88 percent of workers who lost their jobs "called their absences temporary" believing they would be "returning to the same job within six months." But that may be wishful thinking.
While some businesses reopen, "restaurants and other small businesses are closing up shop for good," and several national retailers have declared bankruptcy. "
When do furloughs turn into layoffs?
Many industries that are "already under pressure from digital competition will have trouble coming back," said Noah Smith at Bloomberg. Airlines, too, could face permanent disruption if teleworking cuts into business travel, and higher education will never be the same.
While some businesses reopen, "restaurants and other small businesses are closing up shop for good," and several national retailers have declared bankruptcy. "
When do furloughs turn into layoffs?
Many industries that are "already under pressure from digital competition will have trouble coming back," said Noah Smith at Bloomberg. Airlines, too, could face permanent disruption if teleworking cuts into business travel, and higher education will never be the same.
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