Coronavirus Pandemic Causing Worst Recession In 100 Years For Houston And Beyond, Texas A&M

Coronavirus Pandemic Causing Worst Recession In 100 Years For Houston And Beyond, Texas A&M Economist Says


The coronavirus pandemic is causing a recession the likes of which the United States has not seen in a century, according to Raymond Robertson, an economist at Texas A&M University.

Houston Public Media spoke with him about what may be ahead for Houston, for Texas, and for the country.

You can listen to the interview above. Here are some highlights, edited for length and clarity:

On how bad this recession is:

The effect of this pandemic on the economy is historically catastrophic. The unemployment rate is speculated to be somewhere around 15%, maybe even as high as 20%, which is bringing it in the range of the 25% that we saw during the Great Depression. So the effect on the economy is widespread and incredibly profound.

Read more: https://www.houstonpublicmedia.org/articles/news/business/2020/05/01/368448/coronavirus-pandemic-causing-worst-recession-in-100-years-texas-am-economist-says/