But as is often the case in recessions, the pandemic has prompted many companies to accelerate shifts that were already underway. That implies that even as public health restrictions loosen and as vaccines get closer, the overall economy is not poised for a quick snapback to pre-pandemic levels. Rather, scarring is taking place across a much wider range of sectors than the simple narrative of shutdown versus reopening suggests. In a new report, she estimates that five million people will find it difficult to get new work after the pandemic because their old jobs have disappeared or changed significantly. Seven months in, business is still down 90 percent from pre-pandemic levels, said the owner, Randy Herron.

Source: New York Times October 03, 2020 09:00 UTC