I think the number is a little high, but we still have idiot governors like the one in Michigan who continues to keep the state in lock down.
Report: Estimated '42% of Recent Layoffs Will Result in Permanent Job Loss' In a May 2020 briefing paper, the National Bureau of Economic Research (NBER) reported that its analysis of current and historical job layoffs and recalls indicate that, because of COVID-19, an estimated 42% of "recent pandemic-induced layoffs will result in permanent job loss."
The NBER added that "the longer it takes to bring the economy back on line, the larger the fraction of recent layoffs that will turn out to be permanent." In other words, the longer the economy is in "lockdown," the more jobs will be lost permanently.
The NBER explained that there are the current job layoffs but because of the way the pandemic --and its duration -- is altering "consumer demand and business practices," these altering economic effects will carry on long-term.
"Even if medical advances or natural forces bring an early resolution to the crisis, many pandemic-induced shifts in consumer demand and business practices will persist," states the NBER report, COVID-19 is Also a Reallocation Shock..............
https://www.cnsnews.com/article/national/michael-w-chapman/report-estimated-42-recent-layoffs-will-result-permanent-job
