Millions of Americans get stimulus checks today
Fox Baltimore, 04/15/2020
RESI Chief Economist Daraius Irani spoke with Fox 45 News to discuss the stimulus checks being received across the country, stating “This so unprecedented, a once in a century type of an event. This is an important role the government needs to play in the economy to help stimulate demand as we move forward." However, he does not expect the money to last more than a few weeks for most people.
SAVING LIVES: The plan that could bring jobs, ventilators to Baltimore County
Fox Baltimore, 04/12/2020
Now that General Motors is working to create ventilators on behest of the federal government, Baltimore County leaders are hoping to have the closed plant in White Marsh reopened as part of the effort. RESI Chief Economist Daraius Irani says that this could be a major boost to the state, even if only for a few hundred jobs, stating that “having a bit of a ray of hope might be worth more than the jobs created.” There is currently no indication that the plant will be reopened.
Maryland unemployment claims surge again, surpassing total for all of 2019
The Baltimore Sun, 04/09/2020
The release of new initial unemployment claims data on April 9 marked the third straight week of record-breaking claims numbers. Based on these claims, RESI Chief Economist Daraius Irani estimated the unemployment rate to be around 10 percent. However, he was hopeful that the economy could bounce back strongly after businesses reopened.
Layoffs in Maryland mount as businesses close during coronavirus crisis
The Baltimore Sun, 04/04/2020
Layoffs in Maryland continue to mount, weeks after the state ordered non-essential businesses to temporarily shut down in order to prevent the spread of the coronavirus. Early in the month, RESI Chief Economist Daraius Irani predicted that the pattern would continue, stating “I imagine the numbers will get worse before they get better.” He also provided some hope for the future recovery, noting that “this was not an asset bubble or people nervous about their wealth. Once we get past this, we should start to climb back to normal."