[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"$f1okhey9rbolou":3,"$ffeh0925h8cuz":39,"$f2emv3tus0uf1":43,"$fbwk2pqjjqsc7":47},{"item":4,"previous":27,"next":33},{"id":5,"slug":6,"title":7,"description":8,"excerpt":9,"contentType":10,"featuredImage":11,"bannerImage":9,"body":12,"agentsBottomLine":13,"bodyImage":14,"isInfographic":15,"categories":16,"isVideo":15,"videoThumbnail":9,"videoSource":9,"publishedAt":25,"updatedAt":26},1604,"the-pain-of-unemployment-it-will-be-deep-but-not-for-long","The Pain of Unemployment: It Will Be Deep, But Not for Long","There are two crises in this country right now: a health crisis that has forced everyone into their homes and a financial crisis caused by our inability to move around as we normally would. Over 20 million people in the U.S. became instantly unemployed when it was determined that the only way to defeat this horrific virus was to shut down businesses across the nation. One second a person was gainfully employed, a switch was turned, and then the room went dark on their livelihood.","","blog","https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2020\u002F04\u002F17125059\u002F20200420-KCM-Share.jpg","There are two crises in this country right now: a health crisis that has forced everyone into their homes and a financial crisis caused by our inability to move around as we normally would. Over 20 million people in the U.S. became instantly unemployed when it was determined that the only way to defeat this horrific virus was to shut down businesses across the nation. One second a person was gainfully employed, a switch was turned, and then the room went dark on their livelihood.\u003C!--more-->\r\n\r\nThe financial pain so many families are facing right now is deep.\r\n\u003Ch4>\u003Cstrong>How deep will the pain cut?\u003C\u002Fstrong>\u003C\u002Fh4>\r\nMajor institutions are forecasting unemployment rates last seen during the Great Depression. Here are a few projections:\r\n\u003Cul>\r\n \t\u003Cli>\u003Cstrong>Goldman Sachs - 15%\u003C\u002Fstrong>\u003C\u002Fli>\r\n \t\u003Cli>\u003Cstrong>Merrill Lynch - 10.6%\u003C\u002Fstrong>\u003C\u002Fli>\r\n \t\u003Cli>\u003Cstrong>Wells Fargo - 7.3%\u003C\u002Fstrong>\u003C\u002Fli>\r\n\u003C\u002Ful>\r\n\u003Ch4>\u003Cstrong>How long will the pain last?\u003C\u002Fstrong>\u003C\u002Fh4>\r\nAs horrific as those numbers are, there is some good news. The pain will be deep, but it won’t last as long as it did after previous crises. Taking the direst projection from \u003Cem>Goldman Sachs\u003C\u002Fem>, we can see that 15% unemployment quickly drops to 6-8% as we head into next year, continues to drop, and then returns to about 4% in 2023.\r\n\r\nWhen we compare that to the length of time it took to get back to work during both the Great Recession (9 years long) and the Great Depression (12 years long), we can see how the current timetable is much more favorable.\u003Ca href=\"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002Fwp-content\u002Fuploads\u002F2020\u002F04\u002F20200420-MEM-Eng-1.jpg\">\u003Cimg class=\"aligncenter wp-image-42164\" src=\"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002Fwp-content\u002Fuploads\u002F2020\u002F04\u002F20200420-MEM-Eng-1.jpg\" alt=\"The Pain of Unemployment: It Will Be Deep, But Not for Long | Simplifying The Market\" width=\"650\" height=\"488\" \u002F>\u003C\u002Fa>\r\n\u003Ch3>\u003Cstrong>Bottom Line\u003C\u002Fstrong>\u003C\u002Fh3>\r\nIt’s devastating to think about how the financial heartache families are going through right now is adding to the uncertainty surrounding their health as well. Hopefully, we will soon have the virus contained and then we will, slowly and safely, return to work.","\r\nIt’s devastating to think about how the financial heartache families are going through right now is adding to the uncertainty surrounding their health as well. Hopefully, we will soon have the virus contained and then we will, slowly and safely, return to work.","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002Fwp-content\u002Fuploads\u002F2020\u002F04\u002F20200420-MEM-Eng-1.jpg",false,[17,21],{"id":18,"name":19,"slug":20},5,"For Buyers","buyers",{"id":22,"name":23,"slug":24},6,"For Sellers","sellers","2020-04-20T10:00:29Z","2020-06-18T18:04:23Z",{"id":28,"slug":29,"title":30,"featuredImage":31,"publishedAt":32,"contentType":10,"isVideo":15},1603,"how-technology-is-helping-buyers-navigate-the-home-search-process-infographic","How Technology is Helping Buyers Navigate the Home Search Process [INFOGRAPHIC]","https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2020\u002F04\u002F16173047\u002F20200417-KCM-Share.jpg","2020-04-17T10:00:16Z",{"id":34,"slug":35,"title":36,"featuredImage":37,"publishedAt":38,"contentType":10,"isVideo":15},1605,"will-this-economic-crisis-have-a-v-u-or-l-shaped-recovery","Will This Economic Crisis Have a V, U, or L-Shaped Recovery?","https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2020\u002F04\u002F20175155\u002F20200421-KCM-Share.jpg","2020-04-21T10:00:12Z",{"cover":40,"open":41,"shareSpread":42},"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20260603\u002F2026-Summer-Buyers-Guide-Cover-original.png","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20260603\u002F2026-Summer-Buyers-Guide-Spread-original.png","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20260603\u002F2026-Summer-Buyers-Guide-Magazine-original.png",{"cover":44,"open":45,"shareSpread":46},"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20260603\u002F2026-Summer-Sellers-Guide-Cover-original.png","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20260603\u002F2026-Summer-Sellers-Guide-Spread-original.png","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20260603\u002F2026-Summer-Sellers-Guide-Magazine-original.png",[48,52,53,54,58,62,66,70,74,78,82,86,90,94,98,102,106,110,114,118,122,126,130,134,138,142,146,150,154,158],{"id":49,"name":50,"slug":51},1,"Uncategorized","uncategorized",{"id":18,"name":19,"slug":20},{"id":22,"name":23,"slug":24},{"id":55,"name":56,"slug":57},7,"Foreclosures","foreclosures",{"id":59,"name":60,"slug":61},8,"Infographics","infographics",{"id":63,"name":64,"slug":65},9,"Home Prices","home-prices",{"id":67,"name":68,"slug":69},11,"First-Time Buyers","first-time-buyers",{"id":71,"name":72,"slug":73},34,"Senior Market","senior-market",{"id":75,"name":76,"slug":77},35,"Mortgage Rates","mortgage-rates",{"id":79,"name":80,"slug":81},38,"Move-Up","move-up",{"id":83,"name":84,"slug":85},41,"For Sale by Owner","for-sale-by-owner",{"id":87,"name":88,"slug":89},42,"Featured","featured",{"id":91,"name":92,"slug":93},45,"New Construction","new-construction",{"id":95,"name":96,"slug":97},52,"Luxury \u002F Vacation","luxury--vacation",{"id":99,"name":100,"slug":101},53,"Rent vs. Buy","rent-vs-buy",{"id":103,"name":104,"slug":105},80,"Time-sensitive","time-sensitive",{"id":107,"name":108,"slug":109},81,"Outdated","outdated",{"id":111,"name":112,"slug":113},147,"Internal","internal",{"id":115,"name":116,"slug":117},148,"Do Not Autopost","do-not-autopost",{"id":119,"name":120,"slug":121},320,"Inventory","inventory",{"id":123,"name":124,"slug":125},321,"Agent Value","agent-value",{"id":127,"name":128,"slug":129},322,"Affordability","affordability",{"id":131,"name":132,"slug":133},323,"Buying Tips","buying-tips",{"id":135,"name":136,"slug":137},324,"Downsize","downsize",{"id":139,"name":140,"slug":141},325,"Economy","economy",{"id":143,"name":144,"slug":145},326,"Equity","equity",{"id":147,"name":148,"slug":149},327,"Forecasts","forecasts",{"id":151,"name":152,"slug":153},328,"Selling Tips","selling-tips",{"id":155,"name":156,"slug":157},339,"Expired\u002FWithdrawn\u002FCanceled","expiredwithdrawncanceled",{"id":159,"name":160,"slug":161},340,"Price It Right\u002FOverpricing","price-it-rightoverpricing"]