The unemployment rate held steady at 3.6 percent in April, near 50-year lows last hit before the pandemic
this week by half a percentage point, the sharpest increase since 2000, in hopes of cooling the economy without sinking it into recession.“We need to do everything we can to restore stable prices as quickly and effectively as we can,”
said Wednesday. “We think we have a good chance to do it without a significant increase in unemployment or a really sharp slowdown.”in early 2022, largely because of widening trade gaps and falling inventory purchases. Inflation remains at 40-year highs. And stock market prices — which skyrocketed to records during the pandemic — have plunged in the past week, amid renewed fears of a possible recession this year or next.
“We’re in a weird stage in the cycle right now, where it isn’t completely clear what direction things are going in,” said Liz Ann Sonders, chief investment strategist at Charles Schwab. “Obviously it’s a skittish market environment, and we are starting to see some softening in different ways.”Leah Kush, who lives near Chicago, recently left her 11-year job in the radio industry for a position at a digital marketing firm.
“It was so easy that I was like, ‘Wow, this was meant to be,’ ” the 41-year-old said. “I feel alive again.”“There was no extra pay, but they kept piling stuff on my plate,” she said. “Finally in January, I said, ‘I have to find something new.’ And I’m so glad that I did.”
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