Pretty good jobs number this morning – excluding the fact we still have missing millions of jobs from February and labor participation is way down.
The real concerning part – and what I’ve mentioned many times in my econ talks – is that temporary is becoming permanent. Here’s a comparison of permanent job losses of the last 3 recessions.
There was a large increase in permanent job losses and we have now equaled the tech recession.
These jobs will take a long time to come back and will stall a recover even once we get good testing and/or a vaccine.
