(Bloomberg) — One of the biggest U.S. steelmakers is singaling how the coronavirus pandemic is set to inflict pain on blue-collar America.U.S. Steel Corp. expects to lay off about 2,700 employees as the virus forces the company to idle most of its blast furnaces. Even before lockdowns hit the economy, producers were facing slowing demand in the manufacturing sector.Now, U.S. Steel’s moves further illustrate how the virus is turning President Donald Trump’s much-touted “blue-collar boom” into a bust as he heads into November’s election. Economists see an historic economic contraction in the offing and millions of jobs at risk in …read more
Source:: Yahoo Finance
