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In macroeconomics, the Sahm rule, or Sahm rule recession indicator, is a heuristic measure by the United States' Federal Reserve for determining when an economy has entered a recession. [1] It is useful in real-time evaluation of the business cycle and relies on monthly unemployment data from the Bureau of Labor Statistics (BLS).
Once again, the baby-boom generation has become a generator of change, this time in its retirement. Moreover, the jobless recovery of the 2001 recession, coupled with the severe economic impact of the 2007–2009 recession, caused disruptions in the labor market.
Legislation to extend unemployment benefits had been blocked from coming to a vote on the floor of the Senate through minority Republican filibuster or holds. This began in February 2010 with the block of an unemployment benefit funding bill vote for already authorized and granted unemployment checks for those who had not exhausted their benefits by a single Senator, Jim Bunning (R-KY).
The U.S. unemployment rate ticked up to 4.1% in June from 4% in the prior month, nearly triggering a reliable recession indicator. While unemployment is still historically low, its rate of ...
The U.S. Federal Reserve has taken significant action to stimulate the economy after the 2007–2009 recession. The Fed expanded its balance sheet significantly from 2008 to 2014, meaning it essentially "printed money" to purchase large quantities of mortgage-backed securities and U.S. treasury bonds.
[2] [5] Prior to the onset of the early 1990s recession, the nation enjoyed robust job growth and a declining unemployment rate. The Labor Department estimates that as a result of the recession, the economy shed 1.623 million jobs or 1.3% of non-farm payrolls. The bulk of these losses were in construction and manufacturing. [2]
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The direct correlation between unemployment and the great recession may be less than meets the eye, or is commonly perceived, so says a new report. The cause of the near-doubling of national ...