All Posts Tagged: Scott Anderson

Labor Market Devastation – Who Is Bearing the Brunt?

Scott Anderson
Chief Economist

The widespread business shutdowns that began in mid-March to try to contain the rapidly spreading coronavirus led to millions of Americans being thrown out of work.

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An Unprecedented Drop in Retail Sales and Manufacturing

Scott Anderson
Chief Economist

It is hard to believe but April retail sales were even worse than our already below consensus forecast for April. Retail sales dropped off a cliff last month, plunging 16.4% after dropping 8.3% in March. The March decline broke records last month and April’s sales declines were nearly twice as bad for retailers.

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A Decade of Labor Market Progress Lost

Scott Anderson
Chief Economist

The COVID-19 pandemic has swiftly ended U.S. labor market milestones painstakingly achieved over the past ten years.

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Still in Freefall and Looking For a Way Out

Scott Anderson
Chief Economist

We are still in the freefall stage of the economic shock brought on by the COVID-19 pandemic and will likely remain in this stage at least through the second quarter.

Against this backdrop U.S. equity markets have been downright ebullient over the last month, looking forward to business reopenings and celebrating the flattening of the curve of new virus cases.

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