Mitch McConnell is dead set on making workers the canary in the coronavirus coal mine [Los Angeles Times (CA)]
IHS Markit Ltd. Common Shares (INFO)
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Source: Los Angeles Times
It may not be an official recession yet — technically, the economy has to contract for two consecutive quarters to qualify for that designation. But we’re undoubtedly in the early stages of one, as the U.S. Bureau of Economic Analysis signaled Wednesday when it estimated that GDP fell sharply in the first quarter of 2020. It was the biggest quarterly decrease since the crippling 2008-09 recession, and yet it pales in comparison with the epic 37% decrease that IHS Markit projects for the quarter we’re now slogging through. Maybe that helps explain why so many states are starting to lift their coronavirus stay-at-home orders even though they don’t have the capacity to test workers for the virus or trace contacts on a mass scale. Granted, the restraints weren’t designed to prevent every single person from contracting the coronavirus (and obviously, they didn’t ); they were intended to prevent healthcare systems from being overwhelmed (and they did ). But critics of the states’ moves warn
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