Eric Benz didn't worry very much when his graphic design firm in Atlanta laid him off in March. Instead, Benz has applied for gig work as an Instacart shopper. Hope has given way to an urgent need to pay bills because Benz's unemployment benefits haven't yet come through.
NEW YORK — Eric Benz didn't worry very much when his graphic design firm in Atlanta laid him off in March. He felt sure he'd be recalled to work once the viral pandemic eased and his firm's clients resumed spending.
But the harsh reality is that last month's rehirings aren't expected to continue at the same pace. Forty-two percent of the layoffs caused by the pandemic could become permanent job losses, according to a study by the University of Chicago's Becker Friedman Institute for Economics. Many businesses, from tech start-ups to small shops and big retailers, may not survive the loss of revenue despite federal rescue aid.
“Everything evaporated because of the virus,” said Jansen, 33. ”This job is feeling like it’s in limbo.” Abbott assumed it would be a matter of weeks before everyone would be needed back on the job, juggling 20 events a week. Her 19-year-old business was thriving, and she'd given her staff raises and health insurance. Abbott thought it could easily survive a temporary closure.
Roger Miller, the company’s director of operations, is relying on unemployment benefits in the meantime.
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