Good morning. Two US officials indicated in the last 24 hours that the country's unemployment rate will likely rise above 20% (and, according to Secretary Mnuchin, could reach 25%). My estimates suggest the same and point to following additional questions: - How transitory is the surge in joblessness? - Do current compositional trends worsen that hit particularly hard minorities and the young? - How big is the hit to wages and hours worked for those employed? #economy #markets #jobs #unemployment #unemployment #wages …see more