Replace The Balancing Act mtdemocrat.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from mtdemocrat.com Daily Mail and Mail on Sunday newspapers.
Is it over yet? Still no recession end date as U.S. economy hums along
The U.S. economy is growing at its fastest rate since the early 1980s while household bank accounts are bulging with cash doled out by the federal government to blunt the impact of the coronavirus pandemic.
Over 900,000 jobs were added in March and a Reuters poll of economists expects just under one million more for April, although some forecasters expect double that gain.
Is the United States still in recession?
Common sense and a lot of data say no, but the Business Cycle Dating Committee, a panel organized by the National Bureau of Economic Research that acts as the official arbiter of U.S. recessions, has not yet pinned down an end date for the contraction it said started after February 2020, around the onset of the pandemic.
The U.S. labor market, however, still has a ways to go. The headline jobs gap is large, but the shortfall is also concentrated in the leisure and hospitality industries that may be the slowest to recover given restrictions on some activities like sports events, and the reluctance of some people to mingle too closely.
The single most important sentence in Joe Biden s big speech msn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from msn.com Daily Mail and Mail on Sunday newspapers.