Michael B. Horn, Christensen Institute
As the impact of COVID-19 ripples across the economy, the number of layoffs is without precedent, however, in recent American history with a reported 9.9 million Americans filing for unemployment benefits in the past two weeks. Many millions more are likely to be impacted. There is no natural mechanism today to match the people being laid off to the available job openings. As a result, the time lag between when people with transferable skillsets are laid off and then hired is too long, winding, and unwieldy with an uncertain outcome. The wasted time costs the individual, the nation’s taxpayers, and the national response to this pandemic.
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