U.S. Unemployment Rate Rises
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recession fearsPBS
•Unemployment rise shakes stock markets, yet recession signals have been wrong — so far
81% Informative
Unemployment rate hits 4.3 percent in U.S. for the first time since October 2021 .
Dow Jones average tumbled more than 600 points, or 1.5 percent , Friday 's report from the Labor Department is raising recession fears again.
Recession indicators that have flopped in the post-pandemic era include the “inverted yield curve’s’’.
In inverted yield curve occurs when interest rate on shorter-term Treasury bonds rises above the rate on a longer-term bond, such as the 10-year Treasury .
The switch happened in July 2022 and yields have been inverted ever since, the longest inversion on record.
Inverted yield curve has preceded each of the last 10 recessions, usually by about one to two years .
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87
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