You Can Lead a Horse to Water, But You Can’t Make It Drink

This week we head toward an unfathomably bad employment report as we process a grim reality: This is simply no easy way to reopen the economy and an effort to do so before resolving the underlying public health situation may push us back to square one

The current situation differs from the past in that we deliberately closed large portions of the economy in an effort to contain the spread of Covid-19. The incoming data should thus be fairly predictable. To be sure, it hasn’t disappointed. Initial unemployment claims were without a doubt the harbinger of the data flow to come. While we look to be on the downside of the initial claims surge, that is kind of the definition of “cold comfort” when the level is ridiculously high:

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Πηγή: blogs.uoregon.edu