The region faces a dire economic outlook over the next two years.
Many retailers and consumers fear handling dollars and cents during the coronavirus pandemic. Some experts say it will accelerate the transition to a cash-free U.S. economy.
Depending on how effectively the coronavirus is contained, the jobs at risk in Los Angeles, Orange and San Diego counties could account for nearly 50% of food services employment, 41% of arts and entertainment jobs and 17% of retail employment. The worst effects could be felt in the Latino community, where McKinsey determined that 46% of all jobs are vulnerable to COVID-19.
The agency projected that Imperial County, where residents already experience some of the state’s highest poverty levels, will see unemployment of 26% in 2021, up from 18% last year. Los Angeles County, by contrast, is pegged for a 12% jobless rate in 2021. “Even with some uncertainty over how all of this will play out, our analysis suggests that the pandemic’s economic impacts will be severe and long lasting.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Brazil's coronavirus outbreak worsens with 888 new deaths – latest updatesGlobally, more than two million recover from Covid19. Here're more updates: 🇧🇷Brazil sees 888 new deaths, nearly 20,000 cases 🇵🇪Peru passes 100,000 cases, 3,000 dead 🇲🇽Mexico death toll hits 6,090 😷WHO records highest daily number of cases For more:
Read more »
Brazil passes 20,000 coronavirus deaths – latest updatesGlobal coronavirus pandemic kills over 334,000 people. Here’re updates: 🇧🇷Brazil suffers record 1,188 daily deaths 🇺🇦IMF reaches staff agreement for $5 bln Ukraine financing 🇭🇹Virus detected in Haiti's largest prison For more:
Read more »
Is it safe to swim in a pool, lake or the ocean? Coronavirus questions answeredData is incomplete but so far indicates no great coronavirus risk in water.
Read more »
Naomi Campbell wears full hazmat suit and face shield to fly amid coronavirus pandemic: 'On the move'Naomi Campbell Wears Full Hazmat Suit And Face Shield To Fly Amid Coronavirus Pandemic (via Fox411)
Read more »
Is it safe to swim in a pool, lake or the ocean? Coronavirus questions answeredData is incomplete but so far indicates no great coronavirus risk in water.
Read more »
Animal which passed the coronavirus from bats to humans probably wasn't a pangolin, study suggestsScientists have looked at the genetic make-up of a coronavirus found in pangolins to see if the scaly animals were the intermediary host of the COVID-19 coronavirus.
Read more »