Katharine Abraham featured in The New York Times on Unemployment due to COVID-19 Outbreak
Anne D'Innocenzio, writing in the New York Times, delineates the U.S. job market's sudden collapse with a report that "employers shed hundreds of thousands of jobs last month because of the viral outbreak that's brought the economy to a near-standstill."
Commenting on the unprecedented $2.2 billion relieve package recently signed into law Faculty Associate Katharine Abraham said that if the extra aid manages to help many of the unemployed avoid building up excessive debt, “when businesses open back up . . . they should be able to spend money."
Still, many economists say that additional government support will be needed, particularly if the virus persists into the late summer.
See the complete story at The New York Times
The comments were also picked up by The Wall Street Journal