It could take 4 to 5 years for many Americans to recover wages lost to coronavirus

[Yo_Mama_Been_Loggin]

It may take Americans up to five years to recover from the hit their wages will take during the coronavirus pandemic, according to an analysis by Payscale.

Blue-collar and small-business workers are feeling the biggest impact, said Sudarshan Sampath, director of research for PayScale, a compensation software and data company.

"A lot of folks working for small businesses are probably going to experience something very similar to 2008, where they are losing everything," he said. "It will take four to five years for them to recover."

Mid-size businesses may see a two- to three-year wage recovery period, he added.

However, major companies that are not suffering from big layoffs may be fine — and may even see an expansion if the economy recovers. For example, Salesforce promised it would have "no significant" layoffs over the next three months.

https://www.msn.com/en-us/money/markets/it-could-take-4-to-5-years-for-many-americans-to-recover-wages-lost-to-coronavirus/ar-BB125Ccg?li=BBnbfcN

So that's why they want your grandparents to die from Coronavirus.

[Under The Radar]

1. This is what Trump is going batshit crazy about

The world or especially the USA will be in a depression and all bailouts will have fallen flat and only provided temporary relief.

[stopbush]

2. Pay equality. Perhaps if the wealth had been shared across the spectrum of workers

rather than having billions and trillions of dollars concentrated into the hands of the very few, the average American might have had some kind of reserves to fall back on when disaster struck.

Sadly, nothing will change when it comes to the gross inequities in wealth distribution championed by our politicians.

[procon]

3. It's a fantasy to believe that small and mid sized

businesses will survive months without any customers. The corporate giants will steamroll over businesses struggling week to week. They can't "lose everything" and still expect to recover.

Many of those companies will remain vacant, perhaps a new entrepreneur will step in to fill the need, maybe corporate giants will takeover if there are profits to be made. Or online shopping will be the only viable way for future businesses to survive.