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Nashville, TN, August 10, 2022-Connor Lokar, an economist with ITR Economics, reported at to the audience at the CCA Global Convention in Nashville, Tennessee that the U.S. is, indeed, in a recession.
The reason I occasionally mention it, is because it’s very possible in this environment and I don’t want you to be stuck learning the hard way five months from now.
9,759 Sidelined in the pandemic economy = officially unemployed, absent from work without pay and lost pay due to the pandemic, or not in the labor force and not looking for work due to the pandemic. Source: CBPP analysis of basic monthly CPS public use microdata files and COVID-19 supplemental data files. Moreover, as we’ve already discussed, official unemployment statistics badly understate the number of workers deprived of pay amid the pandemic. They only count people who actively looked for work in the last four weeks or reported being on temporary layoff. This omits some 4.7 million wo...