Real-time #economic and #market indicators will translate into a stunning series of (lagged) economic data points in the weeks to come, with Friday’s #JobsReport likely being a key first glimpse of what we’re in store for: eg. jobless claims 5X more than the next largest decline.
When all is said and done, the #unemployment rate might exceed the 2008 high, and the second quarter #GDP decline could be -10% (or worse), before we begin to recover.
Early indicators, like the #PMIs have begun to roll in, and we can expect to see very similar looking #graphs across the globe.
What could the #employment fallout look like, both in the near term, and as the #economy and #business world evolves alongside the #CoronaCrisis in the year ahead?
Food services and accommodation are likely to see the most severe losses, but while #education services held up nicely in 2008/09, it will see a temporary hit now because of #school closures. Healthcare, of course, could be the rare bright spot in terms of #hiring.
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