There has been much speculation about the strength and 'shape' of the economic recovery after the national shutdown in April. A good description of the different shapes/ narratives (from the last crisis) is here, but an even better discussion is here.
While the stock market has rallied back in the form of a Swoosh or check mark, the real economy has been slower to get going. ADP's private sector job growth numbers for Aug was well below expectations. The Aug jobs report is out tomorrow and even if it meets expectations of 1.4mm job growth, it would still be a sharp deceleration from May and June. So far, only 50% of the 20mm jobs lost between March and April have been recovered.
So the best description of this recovery seems to be:
The mirror-image/inverted square root.
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