Looming Recession
WEALTHTRACK
00:00
Monitoring State Unemployment Rates as a Precursor to Economic Recession
Analyzing state unemployment rates through the Psalm rule, which suggests that if the rate increases by about 50 basis points, it could indicate a state recession. With 19 states experiencing a notable rise in unemployment rates, corresponding to 40% of GDP, historically this has been a precursor to a nationwide recession.
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