Once COVID-19 is reasonably contained and many people go back to work, some businesses will remain permanently closed. There will be longer-term employment consequences for employees of those businesses and for those graduating or looking for new employment. Recent projections from the Congressional Budget Office (CBO) forecast a long overhang of the economic crisis, including a 10 percent unemployment rate 18 months from now. Historical patterns would suggest that in such an environment, Black workers could face unemployment rates as high as 20 percent. With possibly months of significantly elevated unemployment, potential additional waves of closures during intense social distancing, and slow rehiring, that scenario will clearly still require ongoing extended unemployment insurance (UI) benefits and direct cash payments for individuals and families. Continue reading.