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Leading into 2020, the economy was growing at a modest pace (1.9%). By the end of the second quarter, the economy will have recoiled at its quickest clip (-25%+) since the 1930s.
Similarly, at the start of the year, unemployment for working-aged individuals was 3.5%. By the end of Q2, the official unemployment rate may spike as high as 20%.
The economic facts are as disheartening as they are sobering. For example:
(1) Consumer confidence plummeted to a 47-year low (2) U.S. retail sales dropped by the most ever in March (3) Small business confidence