Why the U.S. is now in a recession

Forbes/Simon Moore/3-28-2020

“Here’s the analysis. For February the unemployment rate in the U.S. was reported as 3.5%, or 5.8 million people. If you add another 3 million unemployed to that figure, then, all else equal, you have approximately a 5.3% unemployment rate. That’s a 1.8% increase in the unemployment rate one last week’s data alone.”

USAGOLD note:  Long before the coronavirus came along, economists feared the United States was on the verge of falling into a recession.  The unemployment claims number last week, though, took even the most pessimistic by surprise.  The worry is that it may be just the tip of the iceberg.