New Report By California Economic Forecast, Labor Market Recovery Stagnant
The U.S. Economy had trillions of dollars in stimulus money pumped in, but unemployment continues to rise and with PPP loans beginning to run dry, businesses are increasingly challenged to survive this pandemic. Local governments are laying off staff as budgets turn inside down, and with projected tax revenues for below what governments had planned to spend major adjustments are on the way. I read one sentence with skepticism “It is probable the recovery will continue into the fall and winter”. With California hitting daily record Covid-19 cases (7,000 just a few days ago) I’m just hoping we don’t slip backwards and begin closing businesses back down again.