Why The Real Unemployment Rate Is Actually Even Worse

(CBSNewYork) — The U.S. economy is sharply contracting as many businesses close their doors and consumers shelter in place from the coronavirus. Closed businesses mean lost jobs, hopefully temporary but quite possibly permanent. Lost jobs mean less spending. And even those lucky enough to keep their jobs have fewer places to spend their money. A wide range of non-essential businesses, from sit-down restaurants and movie theaters to daycare centers and after-school programs, remain shuttere