The shutdowns and layoffs associated with the novel coronavirus pandemic have many economists concerned that a new recession is on its way – even as workers are still struggling to recover from the last recession. The Cincinnati Enquirer turned to Christopher Nicak, director of research at the University of Cincinnati’s Alpaugh Family Economics Center, in examining the issue as it affects both the nation and the Greater Cincinnati region.
“The number of Americans who can withstand a month to two months without any earnings is pretty low,” explained Nicak. That’s especially true in Cincinnati, he added, where 1-5 jobs are in industries hit hardest by the shutdown: transportation, hotels and accommodations, food services and arts and recreation. Those jobs also tend to be lower-paying jobs held by workers who are least able to withstand an economic downturn, Nicak said.
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