The Coronavirus pandemic has put more people out of work than at any time since the Great Depression.

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In the USA, unemployment jumped to nearly 15% seemingly overnight. It’s the highest rate since the Great Depression, when it exceeded 25%. In Europe, the situation was handled differently, through government subsidy of payroll so unemployment rose to near 8% during the shutdowns.

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The contrast in plans, the US providing unemployment benefits whereas the EU paying to keep people employed, will provide us with a look at which plan works best in the future. All this is forcing changes in how business is conducted. Every small percentage in market growth for a company makes a huge difference.

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At Noustack, we think that one of the biggest changes, in both hiring and consumer relations, will be to give each company a purpose, a mission. It sets companies apart. In hiring, this draws the best minds to the firm. In sales and customer relations, it shows that the company is a good corporate citizen.

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The best way out of our employment and business crisis is to innovate and, at Noustack, we feel the best way to do that is drive change toward the future and create dynamic firms that help make the world a better place.

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