As Unemployment Rises, Economists Say We May Be In A Recession
The unemployment rate in the U.S. jumped to 5.5 percent in the month of May. Economists still have not declared that we are in a recession, they only speculate that it may be so.
Oil prices reached record highs today, $138.54 a barrel to be exact, the unemployment rate continues to rise, and the Dow Jones dropped over 300 points today. I know that those aren't the indicators for recession (maybe economist will declare a recession at the end of June), but they have to call this something.
By now most people don't care what the hell you call the U.S.'s economic situation, they're living through the hardships now, and the economists' refusal to accept it feels as if they are plugging their ears, shutting their eyes and screaming, "lalalalalala," just to avoid saying that word. -- Elvis Ramirez
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