The dramatic spike in jobless claims is an American peculiarity. In almost no other country are jobs being destroyed so fast because throughout the world, gov’ts are protecting employment. Workers keep their jobs, even in industries that are shut down.https://www.nytimes.com/2020/03/30/opinion/coronavirus-economy-saez-zucman.html …
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In America, the workers are laid off; they must then file for unemployment insurance and wait for the economy to start up again before they can apply for a new job, and if all goes well, sign a new contract and resume working.
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