COVID-19 could shrink the earnings of 2020 graduates for years to come
Before the coronavirus pandemic forced businesses and schools to close, high school and college graduates from the Class of 2020 could have expected to graduate into the strongest job market in 50 years.
Now, due to massive economic fallout, the Class of 2020 is at risk of graduating into a recession.
This souring economy has important implications for more than 3.5 million students expected to graduate from high school in 2020, and the more than 1.3 million students expected to graduate from a two-year or four-year college.
The social distancing that has upended business as usual is causing a wave of layoffs and furloughs, with an unprecedented 3.3 million new unemployment claims filed in the week ending March 21.
And that’s just the beginning. Experts predict the unemployment rate wi...