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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsGov. Cuomo says US economy won't bounce back on its own post-pandemic because
because 'too many' small businesses have closed and corporations won't rehire laid-off workersNew York Gov. Andrew Cuomo said the US economy won't bounce back to pre-pandemic levels on its own because corporations won't rehire workers they laid off and small businesses have been hit hard.
"I don't believe this economy just bounces back," Cuomo said. "Too many small businesses have closed, you'll see many of these corporations are going to use this as an opportunity to lay off workers."
Cuomo predicted that companies won't rehire all of the employees they fire or furlough as a result of the coronavirus.
"Many businesses will have gone through this period where workers were at home. They had fewer workers and used more technology and they're going to decide: 'Well, we don't need as many workers,'" he said.
https://news.yahoo.com/gov-cuomo-says-us-economy-193034540.html
Sad to say he's probably right.
lame54
(35,262 posts)Sherman A1
(38,958 posts)That is the correct way out of this mess and towards the future.
RussBLib
(9,003 posts)that's for the entrepreneurs, but a UBI would give people some goddamn peace of mind. It can give people a relatively more solid foundation from which to actually live, raise children, and become more involved in their community. The GOP hates that. The GOP loves giving out free money, but only to corporations and the already-wealthy.
CrispyQ
(36,421 posts)That seems more realistic. Especially as stupidity rules & people insist on going out & not practicing any safety measures. In my area I can already sense an attitude of "the worst if over."
SoonerPride
(12,286 posts)This is a marathon not a 5k.
Were still on mile 1 of this marathon.
Anyone who thinks its over wont be around at the end of the race.
BannonsLiver
(16,294 posts)Even for the most skilled economist. But a 2-5 year spate is not out of the question.
SoonerPride
(12,286 posts)And they arent gobbling up our exports nor are they traveling to America for tourism.
The global economy will be in a depression until there is a vaccine.
jmg257
(11,996 posts)Are in a bad way.
I figure i have 50/50 shot of getting reinstated. Shore/vacation homes & businesses? Ugh.
Blue_true
(31,261 posts)But there is somewhat of a bright side, the number and complexity of Artificial Intelligence applications will be exploding, workers will be needed to support that, as long as the companies in that area aren't so greedy that they outsource the work to low wage countries, that includes the customer service jobs after a company has purchased the software and robotics.
leftyladyfrommo
(18,864 posts)down their work force abd get rid of older workers that they have been trying to take early retirement.
elias7
(3,991 posts)Many places that were able to hold on for two months because of financial buffer are furloughing NOW. We're still in the early innings of this crazy game and they are talking about recovery?