It’s been quite a half year

On this final day of the first half of 2020, I’m reading Lyn Alden’s excellent newsletter. She’s an engineer and an insightful economist. She writes:

“…3 months after initial COVID-19 shutdowns, we’re still shedding existing jobs faster on a weekly basis than we were at the peak of the Great Recession.

“…the number of continued claims that has been hovering around 20 million … is about 3x as high as the level that was reached during the Great Recession, which didn’t touch even 7 million at its worst point.

“…once we get to a point where 10 million of these unemployed folks manage to get back to work from this crisis (however long that takes), that will still leave more people with continued jobless claims than the worst point in 2009.”

We have much work to do to get our people back to work!

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