It's been a tough couple of months for the economy, and many people are out of work. It's hard to find new jobs or bring home any sort of income at all. That may mean that a lot of bankruptcy filings are on the way if the economy does not recover quickly.
You can track the risk in a lot of different ways, but let's just look at job postings. On ZipRecruiter, a popular job posting site, the total number of listings has plummeted by a staggering 48% since January. There are few more clear indicators that the job market just isn't there.
When asked about it by Fortune magazine, many legal professionals said that they definitely thought a wave of filings was in the works. They were preparing by hiring more staff, though they admitted that they did not know how soon it would begin happening or exactly how many new cases they would see.
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