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Scoop.it!
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US unemployment rises to its highest level since the 1930s as coronavirus devastates the economy. 
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Scoop.it!
Global economy heads for deepest recession since Great Depression as business comes to near standstill
Graham Watson's insight:
But on the plus side, at least inflation's low.
Which seems OK, until you start to think about some of the worst case scenarios - is it possible that the post-coronavirus recession might trigger deflation, and that could be catastrophic, exacerbating the effects of the slowdown, increasing the real value of a newly increased level of debt, and so forth.
I hope that most people are able to use AD-AS analysis to model this, and get thinking about the potentially awful consequences of a spell of deflation.
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The BBC looks at the marked rise in US unemployment, with nearly 15% of the workforce currently unemployed, symptomatic of a global trend that has seen significant rises in unemployment across the developed world.
Obviously, the shutdown has played a role, and relaxing restrictions will help but the extent to which governments can continue to provide support and the speed with which the various sectors of the economy will determine how rapidly the various economies will recover.