THE SCARY JOBS CHART THAT POLICYMAKERS SHOULD BE THINKING ABOUT
For today's @markets newsletter, I wrote about this chart from @calculatedrisk which I think best captures the economic downturn so far bloomberg.com/news/newslette…
For today's @markets newsletter, I wrote about this chart from @calculatedrisk which I think best captures the economic downturn so far bloomberg.com/news/newslette…
@markets @calculatedrisk So far, the downturn in permanent jobs is not as bad as in the last crisis. But the trajectory of job losses is way faster than the last time around. And this is with trillions of dollars having already gone out the door.
@markets @calculatedrisk I asked @JedKolko what the positive spin one could put on the above chart, and that's basically it. That there's still time to prevent this from as being as damaging as last time around, if the virus is controlled and if we maintain a forceful fiscal response.
@markets @calculatedrisk @JedKolko Though as of now, we're set for a dramatic fiscal tightening (UI expansion going away) at the end of July, barring further action.
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@markets Good stuff from @edwardnh, tackling the same chart and what it means pro.creditwritedowns.com/p/bears-forced…
