While President Trump has indicated he would like to reopen the nation's economy by May 1, Massachusetts Governor Charlie Baker has joined a coalition of states working on their own regional plan. Current COVID-19 data shows Mass. is likely experiencing a "surge" of cases right now and health officials say hospital systems are at risk of becoming overburdened if social distancing guidelines are not adhered to.
Boston Globe business columnist Shirley Leung told Boston Public Radio on Thursday economic forecasts from Moody's Analytics and the Massachusetts Taxpayers Foundation put the state's economic reopening into July.
"We probably won't see true activity until July. Let's say the governor and mayors give the go ahead, the all clear signal. How many companies, how many businesses, how many restaurants, how many shops, will be ready to open," she asked. "How many will have their (small business) loans in hand. Some won't, and then some know when they reopen they're not going back to full steam ahead. There are going to be social distancing measures in place. They need to figure out, 'Is it worth me reopening when I only get 50 percent of my customers back, or 25 percent of my customers back."
According to a recent report issued by the Massachusetts Taxpayers Foundation, "economic re-engagement" may begin in the first week of July, but does not expect a full recovery of jobs until the last quarter of 2023.