Are we heading towards recession like 2008 wherein people have cut down their spendings and companies are laying off their employees, we can see cost-cutting everywhere, is it really a recession or just the panic about an uncertain future which is creating a gloomy atmosphere everywhere?
Definitely for people in the United States it will be a recession. North Dakota and Texas won't have oil jobs anymore with how low the price is now. Unemployment insurance filings have got up 200-1000% within the last week for some states from the lock down. Their is a 2 trillion dollar stimulus package but I'm not entirely sure how that will help for the most part. Involves giving everyone around 1,200 USD and 500 USD a child.