May 18, 2020

Experts Predict Long, Slow Climb Toward Economic Recovery

Larry Edelman and Shirley Leung ,

The Boston Globe

McAnneny now expects the shutdown to raise the state unemployment rate to 22 percent by the end of June. She projects that 323,000 jobs will be recovered by June 2021, but employment is unlikely to return to pre-pandemic levels before 2024. That will have a devastating effect on the state budget that goes into effect July 1, with revenues projected to fall by $6 billion, more than a third larger than the foundation’s forecast from just a month ago.