Welcome to the Economic Outlook Series
As we’re facing many new and escalating challenges on the global economic front, particularly from COVID-19 (coronavirus), it is essential first to recognize the impact that this health crisis is having on lives around the world.
In our latest economic update, Danielle Marceau, Prevedere Senior Economist, focuses on structural shifts in the labor market and what it means for economic recovery.
The report highlights the U.S. labor market in flux. While unemployment fell sharply in August to 8.4%, concerns about the job market remain as the number of layoffs that are converting from temporary to permanent.
Additionally, there has been a divergence between total personal income and labor compensation, which typically trend together. In recent months there is an unprecedented disparity due to government intervention. As the macroeconomic recession wanes on the economy, expect an income cliff to take shape, and consumer spending to be severely impacted.
Listen now for a deep dive into the labor market’s complexities and when the economy will likely feel the pain of expiring stimulus.
About Danielle Marceau
Ms. Marceau is a Senior Economist for Prevedere, a predictive analytics company that provides business leaders with real-time insight into their company’s future performance. Prior to her role at Prevedere, Danielle was a Senior Economist at ITR Economics. Danielle’s commentary and expertise have been featured in NPR, MarketWatch, and other publications. Danielle has a Masters’ of Science in Applied 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.