Executive Summary: US payrolls shed 701,000 workers in March, while the unemployment rate jumped to 4.4%.
In The News
Job-related data will continue to deteriorate; however, the temporary income replacement―which is a key feature of the CARES Act―is likely underappreciated.
In light of our recent recession call, we address a variety of follow up questions we have fielded recently.
We recently changed our base case for the US economy, which now calls for a US recession.
This report is the tip of the iceberg in terms of bad economic data as the coronavirus (COVID-19) closures cascade through the US economy.
Executive Summary: A global recession is unavoidable and it will extend to the US. The depth will be influenced by the virus containment efforts, and the duration will be shaped by monetary and fiscal stimulus.