We are living in unprecedented times with a global pandemic that may have widespread repercussions on the world economy. In the U.S., many states have issued executive stay-at-home orders that will have a lasting impact on many businesses. As of April 20, the U.S. has seen 22 million Americans apply for unemployment since President Donald Trump declared the coronavirus outbreak a national emergency on March 15. And, according to a report from McKinsey & Co., the U.S. and European economies could take until 2023 to recover from the coronavirus crisis.
We may not know what the future will bring, but one thing is certain — new information becomes available every day.