The U.S. private sector shed more than 20 million jobs in April, according to payroll company ADP. Losses that big will include jobs that have simply vanished. But while some local businesses are closing for good, not all will. Some restaurants, for instance, will stay open but shed staff.
The permanence of the jobless surge is one of many mysteries sponsored by the pandemic, said Andrew Friedson, assistant professor of economics at the University of Colorado Denver.
“When it comes to jobs, it’s difficult to know how many jobs are lost and how many jobs are just pushed off until later,” Friedson said. “Because it’s difficult to know how much of it is demand being held back that’s going to come back into the economy once people feel safe participating.”
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