“I think it will be closer to a depression than a regular recession,” said Mayra Rodriguez Valladares, a managing principal at the financial consulting and research firm MRV Associates. Rodriguez Valladares sees evidence that the nation is heading toward something similar to the Great Depression based on the millions of jobs lost over the past few weeks. “What we’re seeing right now is closer to the Depression than it was in the 2008 financial crisis,” she said. Rodriguez Valladares foresees workers not quickly returning to their old jobs after the economy eventually rebounds. “When people are fired … they are not immediately brought back. They’re not redeployed, and some may never come back,” she said, adding, “I think we are going to be in a recession for several quarters, and then, recovery will be slow.” Rodriguez Valladares reasoned that the current crisis developed so quickly that there was little data that companies could depend on to prepare, shore up resources, and save jobs. Instead, companies find themselves financially vulnerable as they try to survive the economic shutdown.

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