US jobs: Steepest Monthly Drop Since The 1930S Depression
Janwillem Acket (Julius Baer) | After initial jobless claims topped 33 million since 12 March, US labour market statistics for April showed massive job losses. As was to be expected, the usually cyclically robust services were a major source for redundancies, because they particularly suffered from the lockdown measures. However, there are reasons to expect that April 2020 could mark a low as fiscal and monetary incentives, next to a relaxation of the lockdowns, are prone to start a rehiring wave again.
