CNBC: “The coronavirus crisis could inflict record-setting damage on the US jobs market”By admin_45 in IN THE NEWS
Excerpt from CNBC quoting DataTrek co-founder Jessica Rabe:
.... "During the financial crisis, claims started to rise in July 2009 and hit their apex by the following March 2009. The peak top in claims came a month after Congress passed the American Recovery and Reinvestment Act, the stimulus package aimed at pulling the economy out of its worst slump since the Great Depression, noted Jessica Rabe, co-founder of DataTrek Research.
Congress currently is working on another package that could approach or exceed $1 trillion, with much of the spending directed at taking care of workers and small business owners hit hard by the economic halt that has accompanied the virus’ spread.
“That’s why the right size and scope of a fiscal stimulus package is key to stabilizing both the US economy and equity markets during the current COVID-19 crisis,” Rabe said in a note"....
Read the full article here on CNBC!