Swenson: Economic recovery will be slow

June 22, 2020
News

David SwensonDavid Swenson, associate scientist, was interviewed for a June 19 Des Moines Register story, "8 charts that explain Iowa's economy right now."

Iowa State University economist Dave Swenson warned that the economic recovery will likely be slow, despite some promising signs. At the end of last week, 154,000 Iowans were filing continuing unemployment claims — more than double the peak of 67,000 during last decade's Great Recession. "We have a lot of people whistling past the graveyard," Swenson said. "They just want to say, ‘The worst is behind us.’ The short answer is, ‘Well, the worst of the first is behind us.’ But the duration of sluggishness? That’s not nearly behind us.” 


In a June 25 Des Moines Register story, "Coronavirus-related economic gloom persists in latest round of Iowa jobless claims."

Iowa State University economist Dave Swenson told the Des Moines Register last week that with such pressures, a rapid recovery is unlikely.

"We have a lot of people whistling past the graveyard," Swenson said. "They just want to say, ‘The worst is behind us.’ The short answer is, ‘Well, the worst of the first is behind us.’ But the duration of sluggishness? That’s not nearly behind us.”

 

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