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The job market is flashing signs the US is still headed for a hard-landing, Danielle DiMartino Booth says. The forecaster pointed to workers rolling off unemployment benefits, while part-time jobs ...
Recession fears for 2025 are fading fast, with market models and economist forecasts signaling a slim chance of economic contraction. But with optimism running high, could markets be misreading ...
“The continued positive inflation and labor market news has led us to cut our estimated 12-month U.S. recession probability further,” he wrote to clients Monday, noting that 15% is the average ...
On the other hand, the economy of the world's largest oil exporter, Saudi Arabia, faced a deep recession, due to the COVID-19 pandemic. In the second quarter, Saudi's economy shrank by 7 per cent, hitting both the oil and non-oil sectors. Besides, unemployment during the quarter also hit a record high of 15.4 per cent. [395]
A surprising rise in the U.S. unemployment rate last month has rattled financial markets and set off new worries about the threat of a recession — but it could also prove to be a false alarm.
An estimated $27 billion of the increase was due to the $600/week increase in unemployment benefits due to the CARES Act. [20] On May 20, 2021, the Labor Department reported that there had been only 444,000 unemployment claims during the previous week, the lowest number since the beginning of the pandemic. [21]
“The Sahm rule is likely overstating the labor market's weakening due to unusual shifts in labor supply caused by the pandemic and immigration,” Sahm recently said. The economy is more than a ...
The cooling job market also saw the unemployment rate rise to 4.3 percent in July, up from 4.1 percent last month. The federal data is the latest in a string of worrisome economic news that has ...