Less-Bad Economic COVID News

I was among those fearful unemployment in the U.S. would surpass 20%. It seems that’s not happening. Indeed, the unemployment rate in May actually fell to 13.3%. That’s still really horrible by normal standards, but we’re not in normal times. It’s unclear to me how many people have switched jobs to things like food delivery, but obviously the shift to new jobs has helped. Meanwhile, the U.S. is largely going back to work in all the businesses that were shut down because of the pandemic.

Daily COVID-related deaths continue an overall downward decline in the U.S., with 932 recorded for June 6 (per Our World in Data). That still represents a monumental failure, but things could be worse. I’m a little worried that new Colorado cases remain relatively high, with 240 reported for June 4, but increased testing accounts for part of that. Daily deaths and daily hospitalizations have declined. So I think part of what we’re seeing is people being a little less worried about the disease.

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