The Foundation for Long-Term Recovery

Tom Barkin

Speech from Federal Reserve Bank of Richmond

Abstract: We know the numbers are bleak: 21 million Americans are unemployed, and the number of people who are not working and not actively looking for work (which means they’re not officially counted as “unemployed”) has risen by an additional 8.3 million in two months. Retail sales of consumer goods have fallen by almost 23 percent, manufacturing production has dropped over 18 percent, and GDP was down at a 5 percent annual rate in the first quarter. Forecasters expect this quarter to be much worse.

Keywords: employment and labor markets; workforce develoment; economic inequality and poverty (search for similar items in EconPapers)
Date: 2020-06-15
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