“ If the overall unemployment rate reaches 25%, we project 10.5 million older workers will lose their jobs. For those in the lower half of the earnings distribution, 6.1 million older workers (29%) are projected to be laid off”. That is the stark prediction released by The New School’s Schwartz Center for Economic Policy Analysis.
Never have so many Americans been confined to their homes. The efforts to ‘flatten the curve’ of COVID-19 hospitalizations and increased social isolation have revealed significant side effects. Boredom, hopelessness, depression, moodiness, and loneliness are some of the ailments in the age of ‘social distancing’. The phenomenon of cabin fever,