Are We Actually in a Recession? It's Complicated.
The economic picture in the U.S. has been pretty bleak since mid-March, when COVID-19 cases started multiplying rapidly. Though unemployment levels fell in May compared to April's number, the jobless rate is still at 13.3% -- a far cry from 3.5% back in February, before the pandemic. Meanwhile, in March, the stock market hit an ugly milestone -- it reached bear market territory, defined as a 20% decline in value or more.
Thankfully, the stock market has recouped some of its losses since March, and while the jobless situation is still dire, things have seemingly improved. It therefore begs the question: Is the U.S. actually in a recession right now? Or are we simply teetering on the edge of one?
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Source Fool.com
