Interesting chart from Bloomberg today. The combination of partial lockdowns and holiday lull has plunged the economy back to its worst levels from last March.
This should not last for more than another week or so. But, right now, it's bad! https://t.co/VrAnAAzbVL
— Jim Bianco (@biancoresearch) December 29, 2020
More than 11m people under 40 in the US lost their jobs in spring alone. More than a quarter of those under the age of 25 lost their jobs in three months! https://t.co/DvUy45Xx02 pic.twitter.com/Bn4mUbl01D
— Adam Tooze (@adam_tooze) December 29, 2020
The Fed Won’t Save Us from the Growing Jobs Recession
This year has been a slow-motion train wreck on many levels.