Or perhaps this shock will be more like how Texas responded after Hurricane Harvey. There, the initial shock to initial jobless claims was also large, but it receded pretty quickly. If the U.S. follows this trajectory then the coronavirus recession will be relatively mild.
"I waded through floodwater in Houston after Hurricane Harvey, and traveled along the edge of conflict zones in the southern Philippines. But the last week taught me that reporting on this pandemic is unlike any of that."
As we keep everyone affected by Hurricane Harvey in our thoughts, here’s how you can help:
See the emotional moment this Hurricane Harvey survivor, who lost everything, learned his dad survived the storm