What’s next for the economy?

May 18, 2020 4:13 PM

A person wearing a face mask walks past a sign reads "Yes, we're open." — A shopper walks past the Urban Outfitters store at Rosedale Center, which reopened Monday, May 18, 2020 in Roseville. Twenty of the 120 stores at the mall were reopened on the first day under the new "Stay Safe Minnesota" order. More stores are expected to reopen throughout the week.
Christine T. Nguyen | MPR News

Over 36 million people in the United States have filed for unemployment in the past two months as a result of the COVID-19 pandemic. In Minnesota, more than 675,000 people have filed for unemployment since mid-March.

Retail sales are down 20 percent from last year. Vehicle and clothing sales have collapsed. According to Moody’s Analytics, the economy after adjusting for inflation is on track to decline by 34 percent in the second quarter.

What does the future hold and how should consumers react?

Guest:

Create a More Connected Minnesota

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Chris Farrell, MPR senior economics contributor.

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