The coronavirus pandemic has resulted in businesses up and down the country shuttering their doors and people refraining from commerce. But how bad is the economic contraction?
According to a new poll of American workers from SurveyUSA, it is already very bad indeed.
The survey finds that almost 1 in 10 workers already report being laid off due to the crisis — roughly 14 million people — and an additional 1 in 4, or 35 million people, have seen their hours scaled back.
The business side of the equation looks just as grim. According to Axios, a Goldman Sachs survey found 96 percent of small business owners report being affected, and around half say they cannot keep operating more than three months in these conditions.