Coronavirus: America's Employment Bust

In a short span, the US economy has transitioned from a historic low in unemployment to levels reminiscent of the Great Depression. Key sectors like travel and entertainment have been hit hardest, contributing to significant job losses. As consumer habits evolve, online shopping jobs may replace traditional retail roles, while healthcare demand remains robust. Economic recovery is slow, with retail sales and consumer confidence declining, though some indicators like mortgage applications show stabilization. GDP is expected to shrink significantly, and some service sector jobs may not fully recover.

What significant change occurred in the US economy within two months?

Which sectors were most severely affected by job losses according to the Labor Department?

How might consumer habits change in relation to job positions?

What signs indicate a slow recovery for the economy when the nation reopens?

What is expected to happen to GDP in the current quarter?