Originally Posted by
bundabergdevil
Well, we're about to get the update on the economic disaster this is causing. Estimates seem to agree on 4-5M unemployment claims with upper estimates as high as 9M.
Both the organizations my wife and I work for (non-profit and, recently, public sector) have started to lay people off out of necessity. They're doing the best they can to connect people to unemployment benefits but it's turning into a cash flow issue real quick. There are ways to access capital out there. My wife's non-profit relies entirely on donations, grants, and the like and all their major spring fundraising events were obviously wiped out so they're doing their best to get virtual campaigns up and running. But, in lean times, people understandably don't and can't give quite as much. A couple family members who own and operate small businesses are almost certainly going to have to tap into the CARES Act loans.
Ugly, ugly, ugly.
EDIT: 6.6 MILLION claims filed.