A new report by some South Coast economists backs up a prediction they made a month ago: The United States is headed into a major recession as a result of the coronavirus crisis.
The California Lutheran University Center for Economic Research and Forecasting predicts we will see some of the greatest job losses since the Great Depression, in the 1930’s. The CERF economists expect we will see nine million jobs lost in the second quarter of 2020.
The forecasters say the government’s $2 trillion dollar stimulus effort will have little impact stopping or even slowing the recession. They predict a slow, painful recovery.
The Center is a part of Cal Lutheran, which is the parent of KCLU Radio.
