WSJ: Those shutdown job losses in manufacturing won’t come back
Ed MorrisseyPosted at 8:01 pm on May 11, 2020
Just how will the US economy rebound once all of the COVID-19 restrictions get removed? That depends in large part how quickly those restrictions get rolled back, and whether or not those rollbacks generate a “second wave†that requires another round of curve-flattening shutdowns. The Wall Street Journal takes a pessimistic view of the potential for a V-shaped recovery, especially in the manufacturing sector. The problem of unemployment will create a vicious cycle of declining demand, the very phenomenon that Congress hoped to avoid.
In fact, we’re already seeing this as temporary shutdowns have started to become permanent decisions:
Factory furloughs across the U.S. are becoming permanent closings, a sign of the heavy damage the coronavirus pandemic and shutdowns are exerting on the industrial economy...
https://hotair.com/archives/ed-morrissey/2020/05/11/wsj-shutdown-job-losses-manufacturing-wont-come-back/
