(The Center Square) – The United States triggered a highly accurate recession indicator as recession fears led to the largest stock selloff since December 2022. California, the nation’s largest economy, triggered the same indicator in late 2023.
On the morning of August 2, the United States published unemployment data for July showing a sharp increase from 4.1% in June to 4.3% as hiring cooled during the typically busy summer months. With July’s data, the United States triggered th …