Following 113 straight months of job gains, the U.S. economy shed 701,000 jobs in March, providing a glimpse of things to come. The internal dynamics inside the report are a sober, clear-eyed precursor to what is going to be the largest bloodletting in the labor market since the 1929-1933 period of the Great Depression. … READ MORE >
coronavirus
The state-by-state toll of the coronavirus shutdown on the labor market
The widespread layoffs of American workers worsened in the third week of the coronavirus shutdown, with all states (with the exception of the Virgin Islands) now having reported a significant increase in initial jobless claims at some point during the three-week period. … READ MORE >
How the real estate sector can weather an economy that has all but ground to a halt
Landlords are girding for the very real prospect that the $81 billion owed to them in rent payments, according to Bloomberg, will fall far short as tenants of all kinds struggle to find the cash. … READ MORE >
Tectonic shift in initial jobless claims implies 10.1% unemployment rate
The tectonic shifts in the American labor market continued during the week ending March 28 as first-time jobless claims increased by 6.64 million. … READ MORE >
How to become a qualified lender under the Paycheck Protection Program
The Paycheck Protection Program, an ambitious $349 billion loan program designed to quickly give relief to small businesses, represents an unusual opportunity for lenders to expand their client base with loans that are fully guaranteed by the federal government. … READ MORE >
What middle market companies can learn from Nike about managing disruption
Last week, Nike surprised investors in its earnings report when it revealed that sales in China had declined by only 5% for the quarter ending February 28. While China is a key growth market for the apparel and footwear giant, the decrease demonstrated how well Nike had navigated a nationwide … … READ MORE >
Initial jobless claims preview: Expect another big increase
We expect that for the week ending March 28, 2020, initial jobless claims will show an increase of 3.1 million when the figures are announced on Thursday. This would imply a two-week total of 6.4 million. … READ MORE >
The swift and significant monetary and fiscal policy responses to the coronavirus
March 2020 has been a month for the ages – one that fiscal and monetary policymakers will never forget. Congress put forward roughly $2.2 trillion, or equal to 11.4% of gross domestic product, in fiscal aid to address current and coming economic difficulties around the country. … READ MORE >
RSM Manufacturing Outlook Index gives another sign of recession
The RSM Manufacturing Outlook Index took a nosedive in March, to levels ordinarily reserved for recessions. The index reversed the gains of the first two months of the year and dropped two standard deviations below levels associated with normal manufacturing conditions. … READ MORE >
With the CARES Act, online lenders are poised to become mainstream
The $2 trillion CARES Act promises to help many American businesses, individuals and states overcome the severe impact from the corona pandemic. But one industry in particular is in a strong position to benefit: Fintech, and especially online lending businesses that have been gaining market share in recent years. … READ MORE >