Saturday, August 3rd, 2024
Is the US Economy Sliding to a Recession? – Guest Author Nirmalya Chatterjee

Last week’s weaker job report has rang an alarm bell in the US financial market. The economy added 114,000 jobs in July. It is still a growth in employment but much lower than the strong average monthly growth of 250,000 to 300,000 in the past two years. Unemployment rate has risen from 3.6% to 4.3%. Investors are fearing a possible recession meaning a contraction in the economy instead of growth with resulting layoffs. The stock market reacted last week with Dow Jones down by over 1,000 points. The question inRead More