Unemployment Claims Flat as Economies Reopen Without Hiring
As states continue to lift restrictions on businesses, hiring is stagnant, even though spending is increasing somewhat. According to Chetty et al. (2020)1, until high-income households emerge from isolation and resume spending at pre-pandemic levels employment will not grow significantly. New COVID-19 hotspots throughout the country further complicate the situation as workers seek assistance while they quarantine and/or recover.