The US is reporting more new jobless claims last week than for the entire prior year — ending a 10-year streak of month-by-month “job growth” that began shortly after Pres. Obama took office and has continued for the past three years under Pres. Trump.
In addition to cutting employees, businesses are likely to cut patents. Russ Krajec offers some preliminary numbers on abandonment of rejected claims — finding that the number for the first half of March 2020 show an abandonment rate of double normal.