ASU economics professor predicts a slow state recovery

Although the economy is expected to gradually improve beginning in July, the unemployment rate in the Valley will still be in at nearly 10% by December.

Although the economy is expected to gradually improve beginning in July, the unemployment rate in the Valley will still be in double digits, at nearly 10%, at the beginning of 2021. Lee McPheters says the way to get through the economic crisis is with continued stimulus.

In this story published May 14, 2020, on KJZZ:

It’s the consumer that’s going to bring us out of this downturn. And they’re going to be using funding that is coming from fiscal policy, aid for the unemployed, loans to small business. All of this is expected to kick in around the third quarter.

– Research Professor of Economics Lee McPheters, who is the director of the JPMorgan Chase Economic Outlook Center