Have reopened sooner. Unemployment numbers in those states well below those that have delayed reopening.

Examples as of mid June: Arizona 7.6%, Texas 9.9% and Florida 11.2%.

The laggards include NY at 17.5%, CT at 15.2% and mass at 15.9%.

Job openings are also higher in the reopened states. As the $600 in extra unemployment benefits falls by the wayside at the end of this month I would expect more of those openings to be filled.

Likely we’ll have a bifurcated economy heading into the fall with reopened states at mid to high single digit unemployment rates and the “suppression” states at low to mid teens. This will continue to strain the higher tax states ahead of the fall elections. Frankly the popular “defund the police” efforts including NY and LA couldn’t come at a better time for their municipal budgets.