The accelerated trends in unemployment can have several potential effects on the economy. Firstly, it can lead to a decrease in consumer spending, which is a major driver of economic growth. This is because unemployed individuals have less disposable income to spend on goods and services. Secondly, high unemployment rates can lead to increased government spending on social services such as unemployment benefits, which can strain public finances. Thirdly, prolonged periods of high unemployment can lead to skills erosion among the workforce, making it harder for the economy to recover in the long term.
What will the world of business look like after the coronavirus pandemic? The pandemic will accelera...
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