Alphabet Soup of Forecasts, Unemployment, Greek Lesson: Eco Day

(Bloomberg) -- Welcome to Thursday, Americas. Here’s the latest news and analysis from Bloomberg Economics to help you start the day:

• The number of Spaniards filing for jobless claims surged in March, and the coronavirus could hit particularly hard because the lockdowns have shuttered the tourism industry, a key part of the economy.
  • Almost one million people have claimed “universal credit” welfare payments in the U.K. in the past two weeks, exposing the massive economic damage
• Economists are serving up a menu of alphabet soup in trying to forecast the world economy’s recovery from what is set to be the deepest recession since at least 2009 and perhaps since World War II
• While U.S. retailers, movie theaters and restaurant chains are furloughing hundreds of thousands of employees as revenue dries up, white-collar employers are making commitments to staff
• For a guide to the dangers to a European democracy enduring a uniquely debilitating economic shock, Greece is an easy example at the continent’s doorstep
• A massive exodus of capital from emerging economies has left many in a Catch-22 position: the kinds of monetary and fiscal stimulus measures that the rich world is deploying could perversely make things worse
• Following Donald Trump’s unveiling of $2 trillion in stimulus including cash payments, Japan is revisiting the idea of handouts despite their perceived failure during the global financial crisis
• Finally, don’t miss this week’s episode of the Stephanomics podcast

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