The Federal Reserve reported to Congress today that while the economy tries to rebound from the Covid-19 pandemic, the effort will be strained and uncertain due to persisting risk factors, including uncertainty over future outbreaks and suitable containment, bankruptcies due to weak consumer demand, decreasing labor demand and lower wages, supply chain breakages, and stressed government finances. Two thirds of the U.S. economy is in the service sector, which has been impacted severely compared with previous recessions, given that social distancing and the inability to travel has greatly hampered the travel, tourism, trade, food service, and recreation industries. Many of the workers in these industries earn low wages and may be unable to weather an extended period without pay.
See "Fed Reserve predicts strained recovery through end of year; impact hardest on service sector and low wage workers", Dan Burns, Reuters, June 12, 2020