NEW YORK/SILICON VALLEY/LONDON -- Job anxieties are spreading around the world as the coronavirus pandemic saps economic activity. With demand for travel and restaurant dining wiped out, three business sectors -- hotel and leisure, transport and retail -- appear headed toward widespread closures.
The three sectors employ a total of 100 million Japanese, Americans and Europeans, equal to a quarter of all workers in those economies. The blows to come will be immeasurable if the pandemic further spreads and halts more economic activity. There is urgent need for measures to prevent businesses from collapsing and shedding jobs.