The US July unemployment rate data triggered the Samuelson rule, which is a predictor of economic recession.
PANews reported on August 2nd that according to Golden Ten, the U.S. unemployment rate in July was recorded at 4.3%, a new high since October 2021, triggering the Sahm Rule, which is an indicator that predicts an economic recession. The Sahm Rule states that once the three-month moving average of the unemployment rate is 0.5 percentage points higher than its low point over the past year, it means that an economic recession has already begun.
