High-Frequency Post-Virus Recovery - 2020-07-22
Date:
Thursday, July 23, 2020
Summary:
New jobless claims rose for the first time since the March peak, but continuing claims fell more, which lowers the claims-implied unemployment rate. Social distancing declines this week, implying more willingness to engage in commerce, but it's still above the early-June lows. In our dashboard of hi-frequency data, rail-freight traffic is the first to make a complete v-shaped recovery.