In his latest economic report, Mr. Andrew Duguay, Prevedere’s Chief Economist, focuses on the government stimulus and the impact on recession and recovery trends across states and geographical regions.
Jobless claims hover just above 10% since COVID-19 peaked earlier this year, due to a surge of new cases, and states rolling back reopening plans. Mr. Duguay explores how businesses can adapt to the volatile landscape to accommodate agile business planning when downturns happen to create new opportunities.
U.S. economic viability is reliant on each State’s overall economic form. This recent crisis is experiencing a much wider gap between states than historically observed. States that had fewer COVID-19 cases and reacted modestly will allow for earlier openings and less transition. Additional boosts come from states dominated from industries that can recover faster than those that rely on tourism or the service industry. Businesses will need to focus on forecasting by geography in addition to other factors.