Franchising and COVID-19: CNN reports that more than half of American Jobs could be at risk because of coronavirus

It’s not just about the spread of the virus, rather the aftermath that has many employees worried about what happens next.

According the CNN article, it's probable that as many as 10 million of those workers could see some impact to their paychecks -- either layoffs, furloughs, fewer hours or wage cuts, said Mark Zandi, chief economist at Moody's Analytics, in the article.

Experts are predicting that as many as 1 million jobs could be lost in the coming weeks. In March of 2009, 8000,000 jobs were lost.

According to the article, because the United States is now in what is a virtual national hiring freeze, many of those losing their jobs will have trouble finding new ones. A weekly survey of 350 businesses by Moody's Analytics found that as recently as December 41% of businesses were hiring. As of a Friday survey, that's down to 12%.

Zandi goes on to say: "I think large companies are going to be slower to lay off. They are going to try to get through this. But a lot of these small businesses don't have the cash to weather the storm. It's not obvious to me how we help them. It's tough for the government to try to get cash and credit to small businesses."

This week, 1851 will be co-hosting a special Franchise Community Webinar on the Coronavirus and Franchise. Register here: https://mbf6e734.clickfunnels.com/webinar-registration1584137477175