UC Irvine economist Christopher Schwarz said the economy would’ve taken a hit even if things would’ve stayed open. “If you look at Sweden, who didn’t shut down the economy, their GDP dropped like Norway, who did shut down their economy,” Schwarz said. His colleague, economist Ami Glazer, echoed similar concerns to Voice of OC in early May, when the job losses first started hitting state and federal jobs reports. “There’s evidence that people stopped going to restaurants and stores even before governments imposed lockdowns. So the recession is not just because of government intervention,” Glazer previously said.
Labor Day puts focus on protecting OC workers and unemployed facing uphill battles throughout pandemic
Voice of OC, Sept. 7, 2020
September 7, 2020