Only 3% of top lawyers believed a recession was “highly unlikely in the next 18 months,” according to a survey conducted by Russell Reynolds Associates.

That was last summer when 97% of participating top lawyers forecasted the likelihood of a recession. COVID-19, the novel coronavirus that sparked a global pandemic and forced millions to stay at home to slow the spread of the virus, indeed caused a recession earlier this year. As more companies find footing in a new economy of most employees operating from their homes, the impact is still present and may define the rest of the year and 2021.