Cincinnati Enquirer: UC economist explains why last recession will make this one harder
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.
Read the full story here.
UC experts on coronavirus
As the spread of the coronavirus continues around the world, local and international media are turning to UC researchers for guidance on COVID-19, infectious diseases and more. Read more on how UC is helping them cover the story here.
Related Stories
UC celebrates record graduating class at commencement
April 25, 2024
UC celebrated its doctoral hooding and master's recognition ceremony at Fifth Third Arena as part of its three-day commencement for the largest graduating class in university history.
The 2024 Toast recognizes achievements of Lindner’s Business...
April 25, 2024
The Carl H. Lindner College of Business Office of Inclusive Excellence hosted its annual Toast event for the Business Fellows program April 18 at The Graduate Hotel Cincinnati.
The graduating class of 2024 shares creative works across 15...
April 24, 2024
DAAP’s Graduating Class of 2024 shares creative works across 15 interdisciplinary degree programs at DAAPworks.