Report: Rapid May Job Recovery, What it Means for Remainder of 2020
Continued Discussion on COVID-19 Cases and Economic Impact
Examination and findings on economic leading indicators
Welcome to the Economic Outlook Series
As we’re facing many new and escalating challenges on the global economic front, particularly from the COVID-19 (coronavirus), it is essential first to recognize the impact that this health crisis is having on lives around the world.
Prevedere’s latest U.S. economic outlook focuses on the U.S. jobs report for May 2020, and what the jump in job recovery means for recovery.
In his latest economic report, Mr. Andrew Duguay, Prevedere’s Chief Economist, breaks down the U.S. unemployment numbers as released by the U.S. Bureau of Labor Statistics on Friday, June 5, 2020 when jobs grew by 2.5 million in May.
While the unexpected growth rate is positive news for the U.S. economy, there are some uncertainties around data and how continued job growth expectations will trend.
Mr. Duguay illustrates how wider deviations and statistical inconsistencies in data can hinder business planning, and how context is key for companies in uncertain times such as these. Read as he peels back the jobs report and what he expects in terms of economic recovery.
Andrew Duguay – Chief Economist Prevedere, Inc.
Mr. Duguay is a Chief Economist for Prevedere, a predictive analytics company that helps provides business leaders a real-time insight into their company’s future performance. Prior to his role at Prevedere, Andrew was a Senior Economist at ITR Economics. Andrew’s commentary and expertise have been featured in NPR, Reuters, and other publications. Andrew has an MBA and a degree in Economics. He has received a Certificate in Professional Forecasting from the Institute for Business Forecasting and Certificates in Economic Measurement, Applied Econometrics, and Time-Series Analysis and Forecasting from the National Association for Business Economics.
About Prevedere, Inc. Prevedere is a predictive analytics software company that delivers insights into future business outcomes based on current economic trends. Our predictive economic intelligence helps executives see what lies ahead for their business and solve for upcoming risks and opportunities. Our SaaS solutions apply the power of machine learning and predictive modeling to more than 2.5 million indicators of global economic and consumer activity. Prevedere customers include Fortune 500 industry leaders in retail, manufacturing, and consumer packaged goods. To learn more, visit www.prevedere.comand follow @Prevedere on Twitter.