The recession is here
Friday, August 15th, 2008
Did anyone notice that the revisions in initial unemployment insurance claims today pushed the four week moving average up to 440,500, up 19,500 from last week.
Anything above 400k is regarded as recession territory. We just transitioned from teetering on the edge of a recession to plummeting.
Here’s my post in February on the topic, when claims were at 375,000.