Recession

The Bureau of Labor Statistics reported that employers added 528,000 new jobs in July, more than twice what economists had forecast.

Why are the White House, cable news, economists and financial journalists obsessing over the definition of a recession?

The Commerce Department reported Thursday morning that gross domestic product, an economic measure of how much the U.S. economy is growing, has declined for two straight quarters.

Across the economy, we can see a slowdown and the possibility that many of the trends that defined the post-covid-shutdown experience — massive job growth and employer demand for labor, a booming housing market, white-hot inflation — have perhaps peaked or at least have slowed down. It’s not the end of the opening-up economy but may be the beginning of the end.

Almost 80 percent of consumers surveyed 'expected bad times in the year ahead for business conditions.'