The coronavirus pandemic has already started to hit American pocketbooks, with nearly 1 in 5 households experiencing a layoff or a reduction in work hours, according to a new NPR/PBS NewsHour/Marist poll.
As people stay home, avoid crowds and cancel plans to avoid spreading the disease, it’s rapidly causing a contraction in economic activity that is hurting a wide range of businesses.
Restaurants, bars, hotels and airlines are among the hardest-hit industries, but the ripple effects of the drop in demand are expected to spread across virtually the entire economy.