– Historic economic fallout: The U.S. economy is facing historic fallout from the COVID-19 crisis
– Labor market decline: Since the start of the pandemic, more than 30 million people have filed for unemployment, erasing decades of progress .
HOUSTON, May 21, 2020 /PRNewswire/ — The BBVA Research team has published its Economic Outlook for second quarter 2020, offering a look at how the U.S. economy might recover in a post-COVID world.
The report provides a high level view of the country’s efforts to find a balance between bringing the economy back to normal while keeping its residents safe. The economists, who authored the expansive report together, indicated that it expects to see ongoing social distancing, workforce-protection controls, and case-based interventions (testing, contact tracing, self-isolation, etc.),