Series of posts by former Department of Labor economist and professor starts with:
https://bsky.app/profile/jrothst.bsky.social/post/3liin7up3c...
It seems almost unavoidable at this point that we are headed for a deep, deep recession. Just based on 200K+ federal firings & pullback of contracts, the March employment report (to be released April 4) seems certain to show bigger job losses than any month ever outside of a few in 2008-9 and 2020.
Higher unemployment leads to lower consumer spending - the USA economy is built on consumer spending.
https://bsky.app/profile/jrothst.bsky.social/post/3liin7up3c... It seems almost unavoidable at this point that we are headed for a deep, deep recession. Just based on 200K+ federal firings & pullback of contracts, the March employment report (to be released April 4) seems certain to show bigger job losses than any month ever outside of a few in 2008-9 and 2020.
Higher unemployment leads to lower consumer spending - the USA economy is built on consumer spending.