Analysis & Opinions

This Week in COVID-19 and Economic Diplomacy: ‘U.S. and UK Face Job Crisis’

| Aug. 13, 2020

Our weekly COVID-19 and Economic Diplomacy tracker looks at policies that impact the coordination of international governments and central banks, ongoing commentary and analysis, and asks what these turbulent times mean for economic diplomacy. 

We’d love to hear what you think. Send us your comments, and be sure to follow us on Twitter @BelferEDI.

The Highlights

  • The U.S. Department of Labor released its latest jobs report with unemployment falling to 10.2% and the economy adding 1.8 million jobs. President Trump signed four executive orders for coronavirus relief. 
  • Investor confidence in the eurozone is increasing as the bloc suspended its national budget rule. The UK faces a historic recession, with GDP falling 20.4% in the second quarter, and a jobs crisis, having shed 750,000 jobs and furloughed more than 25% of the workforce since the lockdown. 
  • Africa recorded 1 million Covid-19 cases last week. However, experts argue that the continent is vastly undercounting and actually surpassed that number many weeks ago.

U.S. Developments

European Developments

Emerging Markets

Odds and Ends

For more information on this publication: Belfer Communications Office
For Academic Citation: Suh, Hannah.“This Week in COVID-19 and Economic Diplomacy: ‘U.S. and UK Face Job Crisis’.” , August 13, 2020.

The Author