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Survey: Economy Won’t Be Fully Recovered From Pandemic A Year From Now

Mount Equity Group Tokyo, Japan > News > Markets > Survey: Economy Won’t Be Fully Recovered From Pandemic A Year From Now

More than a year after the coronavirus pandemic caused the most devastating recession since the Great Depression, the U.S. economy is expected to spend the next 12 months on an upward spiral, though it still won’t have gained back all of the ground that it lost by then, according to the nation’s top economists.

Experts polled for Bankrate’s Second-Quarter Economic Indicator survey see joblessness sinking to 4.49 percent a year from now, while U.S. employers are seen as adding an average of about 412,000 new positions each month over the next year. If those forecasts come to fruition, the U.S. economy will need just about 2.5 million more jobs to get back to where it was before the outbreak, while unemployment will be about 1 percentage point higher than its pre-recession low of 3.5 percent.

To be sure, those expectations would mark significant progress for the U.S. financial system, particularly after the outbreak cost 22.2…

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