This is an unpopular opinion, but I think it's worth considering that most of these people are probably hourly wage earners, and so when things open up again, they will probably be hired back very quickly. The people aren't going anywhere, and they haven't been deleted from society. When businesses reopen this number will probably drop substantially. The businesses themselves (restaurants, retail, etc) haven't gone anywhere, they're just not operating. Yes there will be some bankruptcies, but those companies will restructure, assets will be sold, and something else will pop up in place.
If someone has a strong case for why this isn't true, I'd love to hear it, but it's my current working thesis and I haven't been convinced otherwise. I know it's unpopular because of politics and such, but I'm optimistic about recovery.
If someone has a strong case for why this isn't true, I'd love to hear it, but it's my current working thesis and I haven't been convinced otherwise. I know it's unpopular because of politics and such, but I'm optimistic about recovery.