2020 has not been good. The understatement of the year. There is an overwhelming amount of negative news, shocking data, and economic predictions that feel like we are living a bad dream. The pandemic has systematically impacted companies and their employees across industry size, sector and location. Despite the incessant negative news, we set out to identify positive data and actions (upcoming report) that can be taken to strengthen business operations during this economic recession.
Before discussing positive events, we will summarize the first four months of 2020. Since first detected in the Chinese city of Wuhan in December 2019, COVID-19 has spread to every U.S. state and the District of Columbia. All continents, except for Antarctica, have also been infected. As of April 15, 2020, there were over 650,000 confirmed COVID-19 cases in the U.S. and more than two million globally.
The strict Shelter in Place orders for the majority of the US is akin to putting a patient into a medically induced coma to aid in the patient’s recovery. The result is an unprecedented financial blow to the U.S. economy, and the consumers who serve as its lifeblood. The volatile financial markets, staggering job losses, economic slowdown and uncertain future has paralyzed much of the business world.
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