The system is going to be overwhelmed
Around the world governments are going to be tested on unemployment benefit claims like never before.
Schools, daycares and businesses are shutting down at lightspeed. In something like the financial crisis it was sudden, but not like this. 12 million Americans work in the food-service industry with an average salary of $21,800. Those people aren't going to survive without two months of paychecks. They will need that money fast. 747,250 Americans work for airlines.
Processing all the unemployment claims will be a nightmare.
If the government can't get virus tests, how do you think it's going to handle a US initial jobless claims jumping from 200K to 2 million?
Update: I just want to clarify: I'm not saying this is the worst thing ever, not at all. It's just so fast and so sudden and so much is shutting so quickly. There's this great idea to get all the people who are temporarily laid off employment insurance quickly but actually making it happen is going to be a bureaucratic disaster.
