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    Unemployment data Aug 2/24, jumped to 4.3%, up 0.8% YoY… Well boys we might be in a recession

    https://preview.redd.it/c2yyffnsw8gd1.png?width=514&format=png&auto=webp&s=f5cbb6c6c23a2c03d8b2af76d7b0e9757ee9d529

    Sahm's rule. Its been funnnnnnnnnnnnnnnnn

    https://www.dol.gov/newsroom/economicdata/empsit_08022024.pdf

    Unemployment data Aug 2/24, jumped to 4.3%, up 0.8% YoY… Well boys we might be in a recession
    byu/PaleontologistDeep80 inwallstreetbets



    Posted by PaleontologistDeep80

    View 40 Comments

    40 Comments

    1. WhileGlass8481 on

      Yet fed keep saying everything is in line so far right? Can’t say didn’t see this coming.

    2. James_E_Rustle on

      “Economy is humming” “Inflation is transitory”

      See you boys at Spy 300 next year

    3. Gambling_Fugger on

      I love unemployment. Been on it for maybe 5 months now. Bills are paid, weed is smoked, video games are played

    7. SmallCapsOnly on

      This is literally the outcome the Fed wants.. how do you stop inflation? Stop the consumer from buying by making them unemployed.

    13. MediocreX on

      Panic cuts incoming?

      Lets get this market up and running before the november elections!

    18. PMmeDonutHoles on

      4.3% is historically not even that high. A small bump in unemployment was expected and necessary to stop inflation. We’re pretty much seeing the soft landing everyone wanted and yet people are acting like it’s 2008 all over again.

    20. Fruhmann on

      Can’t they just mass edit the Wikipedia page again, like the last time we were in a recession? That seemed to fix the problem easily!

    21. BlackWindBears on

      Unemployment for this cycle still the lowest it’s been since…the 1970s?

      GDP growth was 2.8%.

      If you think 4% unemployment and growth of nearly 3% is “a recession”, you are not going to like when the economy actually contracts and unemployment is above 6 or 7.

    22. iswearimnotabotbro on

      Bullish af. This has been what the fed has been trying to do all along but the US economy has regard strength and wouldn’t give up the ghost.

      Now that it’s starting to crumble they can cut rates and money will get cheaper. It’s counter intuitive but this is kinda healthy for our economy longer term. Like how you use chemo to kill cancer.

    25. notyourregularninja on

      Well feds wanted markets to go down, everyone to be unemployed and also everyone’s savings to dry out. What a strategy!!

    29. Alexa_is_a_mumu on

      So what you are really saying is more interest rate cuts = bullish. Time to back up the truck or what?

    35. bswizzle2552 on

      We’ve been in a recession for the past year and a half

      No one wanted to admit it

    36. Smooth-Entrance-1526 on

      As soon as rates are cut, borrowing will explode, spending rebounds, and the cycle continues

      Having a centralized authority set a floor on market rates instead of letting the market naturally decide probably is not the most efficient way for the market to function

      The federal reserve, fiat banking, and exploding sovereign debt is crippling the United States. We are vastly overextended, and our financial system is rapidly losing confidence, which is the only thing its supposedly backed by.

      This is a system built to fail

    39. nonsensepineapple on

      So you’re saying I should use my grandmother’s inheritance money to YOLO on Intel? 🤔

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