Oil Inventories and Jobs Recovery Scenarios

US Jobs Scenario in Three Sectors and Backwardation in Oil

By Blu Putnam, Chief Economist & Erik Norland, Senior Economist, CME Group

Pandemic’s Possible Impact on Three Sectors

  • Only 56% percent of jobs lost to pandemic have been recovered.
  • State/local government revenues stressed like during the Great Recession.
  • Innovation has reduced education costs through online classes.
  • Technology is improving services, lowering costs in health care.
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