For the past couple of months, the coronavirus disease 2019 (COVID-19) pandemic has wreaked havoc on the U.S. and global economy. In the U.S., more than 39 million people have filed an initial jobless claim within the past nine weeks, while the unemployment rate in India has increased from 8.7% in March to more than 27% by May 3. Regardless of the country, the results are similar.
COVID-19 has also been relatively indiscriminate when it comes to the economy. Though pockets of strength have emerged, most industries have been negatively impacted by the spread of the coronavirus and the mitigation measures put in place to curb its transmission.