The Economy During Crisis
12
Visit nationalclub.org/coronavirus for more information The Economy During Crisis April 7, 2020 Presented by: Curtis Dubay, Lead Economist, U.S. Chamber of Commerce Moderated by: Joe Trauger , Vice President of Government Relations, National Club Association
Transcript of The Economy During Crisis
Visit nationalclub.org/coronavirus for more information
The Economy During Crisis
April 7, 2020
Presented by:Curtis Dubay, Lead Economist, U.S. Chamber of Commerce
Moderated by: Joe Trauger, Vice President of Government Relations, National Club Association
Visit nationalclub.org/coronavirus for more information
Henry Wallmeyer
President and CEONational Club Association
nationalclub.org/coronavirus
Visit nationalclub.org/coronavirus for more information
Joe Trauger
Vice President of Government RelationsNational Club Association
Visit nationalclub.org/coronavirus for more information
What's Ahead
• Congress returns April 20, 2020• Guidance from Treasury and SBA• Phase IV Relief Bill
• Contact your Member of Congress and Senators• 501(c)7 organizations not eligible for SBA relief• Share challenges of small businesses• Reductions in staff• No certainty of when they can reopen• People shouldn't be left behind in relief efforts• Clubs doing their part to slow spread
Visit nationalclub.org/coronavirus for more information
Curtis Dubay
Lead Economist U.S. Chamber of Commerce
695,000
211,000 282,000
3,307,000
6,648,000
-
1,000,000
2,000,000
3,000,000
4,000,000
5,000,000
6,000,000
7,000,000
October 1982 Week ending March7
Week ending March14
Week ending March21
Week ending March28
Historically High Unemployment Insurance Claims Last Week
-9.5%
-11.7% -11.9% -12.0% -12.0%-12.9%
-14.7%
-19.2% -20.0%
-25.0%
-26.5%
-28.0%
-30.0% -30.1%
-34.0%
-40.0%-40.0%
-35.0%
-30.0%
-25.0%
-20.0%
-15.0%
-10.0%
-5.0%
0.0%
UBSBerenberg
CapitalOxford
Economics CitigroupCredit Suisse
Deutsche Bank Wells Fargo Average
First Investors
Trust JPMorgan IHS Markit CBOBank of America
Morgan Stanley
Goldman Sachs Cap Econ
Second Quarter Contraction Will Be Steep
2.1%
-4.2%
-19.2%
4.3% 5.0%
-20.0%
-15.0%
-10.0%
-5.0%
0.0%2019 Q4 Q1 Q2 Q3 Q4
U.S. Economic Growth will Contract Sharply in Q1 and Q2 Before Rebounding Later in the Year
Source: U.S. Chamber of Commerce and Various
Visit nationalclub.org/coronavirus for more information
The Economy During Crisis
Visit nationalclub.org/coronavirus for more information
Curtis Dubay
Lead Economist U.S. Chamber of Commerce
Visit nationalclub.org/coronavirus for more information
Joe Trauger
Vice President of Government RelationsNational Club Association
