The Intelligence from The Economist Trough to peak: how high will American unemployment go?
Apr 3, 2020
Join Callum Williams, a Senior economics writer, and Greg Karlstrom, a Middle East correspondent, as they dive into the tumultuous shifts in the American job market amid the pandemic. They analyze soaring unemployment rates and compare the U.S. response with that of Europe. Meanwhile, they explore the struggles of Saudi Arabia's Crown Prince Mohammed bin Salman, facing economic woes and international scrutiny. The conversation also touches on the discovery of ancient cave art and the impact of modern threats on cultural heritage.
AI Snips
Chapters
Transcript
Episode notes
US Unemployment Spike
- The US unemployment rate, at a 50-year low of 3.4% in February, is now rapidly rising due to the coronavirus.
- The coming months will likely see unemployment exceed 10%, impacting specific industries hardest.
Policy Responses to Unemployment
- Policymakers are focusing on stimulus packages and aid for small businesses, particularly in the leisure sector.
- As unemployment rises, further checks and increased aid amounts are likely to be discussed.
Transatlantic Differences in Approach
- European countries have implemented stronger policies to retain staff during the pandemic, unlike the US.
- This transatlantic difference might lead to higher US unemployment rates compared to Europe.