Our current recession is an anomaly caused by an unexpected event with unprecedented magnitude. The pandemic’s impact was swift and deep. As we look at some of the unusual factors impacting the recession, we also need to examine the current fundamentals and what they mean for the recovery ahead.
One of the key metrics we track during a recession is the improvement in unemployment. In January, the unemployment rate improved to 6.3%, up from 6.7% in December, so it looks like we are headed in the right direction. However, there are many factors that affect where we will be six months from now.
In my recently released report, I focus on the important variables that will continue to determine our road to recovery.