National

Entrepreneur and former 2020 presidential candidate Andrew Yang said during an Axios virtual event Wednesday that "a lot of" layoffs from the coronavirus pandemic "are gone for good." 

The big picture: 1 in 10 working-age Americans filed for unemployment in the opening weeks of the crisis, with more on the way.

"We’re going to see 10 years worth of change in 10 weeks," Yang said, with companies adapting to fewer workers.

"Do we really think every Macy’s is suddenly going to reopen" with the same amount of stores? he asked.

Go deeper: Andrew Yang brushes off coronavirus stimulus cost concerns

Andrew Yang: "A lot of" coronavirus layoffs are "gone for good"

"We’re going to see 10 years worth of change in 10 weeks," Yang said.

Business

Andrew Yang

Coronavirus

Jobs

Entrepreneur and former 2020 presidential candidate Andrew Yang said during an Axios virtual event Wednesday that &quot;a lot of&quot; layoffs from the coronavirus pandemic &quot;are gone for good.&quot; The big picture: 1 in 10 working-age Americans filed for unemployment in the opening weeks of the crisis, with more on the way.

After a record economic expansion, the coronavirus pandemic sent the U.S. economy into a recession as unemployment soared to staggering heights. The country now faces urgent questions about how much stimulus is needed for reeling consumers and businesses, and what a recovery might look like.

Economy & Business

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