Unemployment was low and wages were rising when the coronavirus became a concern. Now the stock market has crashed, quarantines and social distancing are the orders of the day, and businesses have closed left and right.
Preliminary analysis from the Center for Business and Economic Research at Ball State University in Indiana shows perhaps one worker of every six losing work because of the virus precautions. That compares with predictions made recently by the federal treasury secretary.
Michael Hicks is the director of CBER; he visits with details of the analysis.