The real question is what effect this will have on the economy given that in past times with surges in unemployment the people are out of work a really long time.
Now if this "shutdown" gets lifted sometime in May and people are allowed to go back to restaurants and shops and malls exercising safety measures and all that, plus the government assistance being offered to all the businesses.... wouldn't hiring spike immediately?
After the housing crisis the economy was in the shitter a long time and no one was rushing to hire as people were financially damaged in permanent ways (houses lost, financial firms went bankrupt, etc..).
Imagine if April 30th some of the lockdowns are lifted and we all went out to eat and drink and shop like normal.
I think the job losses are due to extremely unique circumstances and I predict that if the government can fund/bail/save most of them with financial assistance, the hiring boom could be quite the thing.
