The loss of forty million jobs within ten weeks was primarily due to the impact of the COVID-19 pandemic. The pandemic led to a sudden increase in ecommerce's share in U.S. retail from 16% to 27% within eight weeks, indicating a shift in consumer behavior and business operations. This rapid change likely resulted in job losses in traditional retail sectors. Additionally, the economic inequality and unemployment trends accelerated during this period. Particularly, forty percent of households with income below $40,000 were laid off or furloughed compared to just 13% percent of households over $100,000, suggesting that lower-income households were disproportionately affected.
What will the world of business look like after the coronavirus pandemic? The pandemic will accelera...
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