S&P 500 Breaks New Record; Small Business Picture Is Different
Published Friday, August 21, 2020; 8:00 p.m. EST
(Friday, August 21, 2020; 8:00 p.m. EST) It's a tale of two economies: coronavirus hurts small businesses while the tech giants are immune. The Standard & Poor's 500 closed at a new record high, but the recovery picture in the overall U.S. economy is not as bright. The 60 leading economists surveyed in mid-August by "The Wall Street Journal" expect a gradual decline in the unemployment rate to 4.9% by the end of 2023. However, pre-covid, unemployment dropped to as low as 3.5%, and economists don't expect to re-approach that level, "full employment," for at least several years. To be clear, a complete...
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