According to Reuters, coronavirus tackled the U.S. economy, in the first quarter of the year, "at its sharpest pace since the Great Recession."<br />The Commerce Department explained that the gross domestic product tumbled at a 4.8% annualized rate, after expanding at a 2.1% rate in late 2019. <br />The country wide lockdown included millions of Americans seeking unemployment benefits in late March, including a sharp drop in consumer spending, which makes up two-thirds of economic activity. <br />Sung Won Sohn, a business economics professor at L.A.'s Loyola Marymount University said, “It’s premature to talk about a recovery at this moment, we are going to be seeing a lot of bankruptcies for small and medium sized businesses.”<br />Kwok Ping Tsang, an associate professor of economics in the Virginia Tech College of Science explained that other factors will also prevent employees from working at 100%. <br />He adds, “Employees also must juggle child care, home schooling, and more stressors.”
