COVID-19 has effectively brought the economy to a grinding halt. 42 states (as well as Puerto Rico and Washington, D.C.) plus counties, towns, or jurisdictions in three other states (Wyoming, Utah, and Oklahoma) have issued a stay-at-home order. These restrictions, intended to “flatten the curve” of COVID-19 infections, have produced the side effect of leaving businesses across industry sectors unable to operate. The companies that depend most fully on in-person operations or customer interactions—retail, hospitality, tourism, construction—have been hit the hardest. Still, there is no doubt that the pandemic is affecting every business and individual.
Huge job losses and unemployment filings have resulted. Eventually, the curve will trend downwards, whether as a result of social distancing efforts or because a vaccine has been discovered. When that happens, the employers poised to accelerate out of the pandemic and the recession that it has caused will recruit top job candidates, innovate for a brand-new era, and grow prosperously as the economy recovers from this unprecedented challenge.
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