Devastating Damage from the Pandemic Is a Long Line of Bad News


by David Haggith, The Great Recession Blog:

It’s time for my semi-regular roundup of where the economy has gone since the last roundup, and …

It’s a long line of devilish details

Retail sales have recovered, but not enough on the upside where they stalled out in October, to compensate for earlier losses to the downside:


The recovery in US industrial production stopped in September, falling far short of a full v-shaped recovery, and actually fell again:

That erases fourteen years of growth in US industrial production, taking us back before the Great Recession and all recovery growth since then:

October’s numbers, which came in a week ago, didn’t fair much better:

Not surprisingly, then, the total of all the kinds of jobless claims out there remains at an historically astronomical level, and the rate at which they are coming in has actually started to rise again:

With that kind of unemployment, welcome to the pandemic version of the Great Depression’s soup and breadlines:

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