I was scrolling through the news and suddenly read that the number (claims) of jobless people in US had crossed 1.1 million, and in my personal opinion this is bad news for the US economy which is already struggling to bounce back from Covid19 effects.
Furthermore the Democrats have continued to blame Trump for the economic mess that US is currently facing, but the voters yet believe in his ability to stabilise the economy.
What do youll think is it right to say that the US V shaped economy wont recover this year, or its only matter of few months before it recovers?
I have a feeling the unemployment rate bottomed out in July, and is now bouncing back to higher levels seen in April-May. The improvement between June and July was marginal and we're now seeing worrying weekly numbers. I think there was a notable "reopening bump" that simply won't sustain through the year.
V-shaped recovery in asset markets? Yes. In the economy? No......