US Recession Signals Being Tested - Labor Market Changes Due to COVID-19
2024/8/2 11:45 JST (some excerpts)
The pace of increase in the unemployment rate suggests a recession based on conventional rules
The situation is “extremely unusual” and FRB Chairman Powell does not apply conventional wisdom
Predicting a decline in the labor market has never been easy. However, due to the unique dynamics after the novel coronavirus pandemic (global pandemic), it has become even more difficult for economists to determine whether the recent rise in the US unemployment rate suggests future issues.
The pace of increase in the unemployment rate suggests a recession based on conventional rules
The situation is “extremely unusual” and FRB Chairman Powell does not apply conventional wisdom
Predicting a decline in the labor market has never been easy. However, due to the unique dynamics after the novel coronavirus pandemic (global pandemic), it has become even more difficult for economists to determine whether the recent rise in the US unemployment rate suggests future issues.
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