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Congress’ unemployment fix won’t stop second layoffs crisis

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People wait in line as SF-Marin Food Bank hands out 1600 food bags in San Francisco on April 20, 2020. Work furloughs and layoffs created by coronavirus shelter-in-place orders are driving thousands to seek food assistance.

San Francisco Chronicle | Hearst Newspapers via Getty Images

With stop gap federal measures to shore up the economy set to expire, we are likely to face a second wave of unemployment that requires sharp — and systemic — solutions to another looming crisis. As our nation’s governors grapple with this summer’s spread of coronavirus, an insidious economic problem looms large: the second wave of layoffs.

When the pandemic arrived, millions of Americans felt an immediate…



Source cnbc.com

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