Zero Hedge – by Tyler Durden
Today’s jobs report was, as expected and as previously discussed, absolutely horrific, although as Bank of America points out there was one silver lining which Larry Kudlow quickly latched on to: with 72% of jobs lost being reflected as temporary layoffs, workers should be able to be more seamlessly rehired as the economy reopens. However, the longer this pandemic goes on, the more likely that what was temporary becomes permanent, and as we pointed out in a previous post, even baseline cases see unemployment not returning back to normal until 2022 or later. Continue reading “A Tragic Record: For The First Time Ever, More Than Half Of The US Population Is Not Working”