In an article that may have made you feel better about the upcoming economic slowdown, TechCrunch reports that a large number of people in the US have been experiencing economic problems.
It reports that an analysis of the Bureau of Labor Statistics data found that in the week ending April 26, nearly one in five US workers were experiencing at least one of the following: a loss of $1,000 or more in wages, an increase in unemployment or underemployment, or a decline in hours worked.
The report says that the unemployment rate is still below its post-crisis peak, which was at 5.9 percent in December, but the number of unemployed has risen by 2.9 million since the beginning of the year.
The report also says that there has been a sharp increase in the number who are living in poverty.
On the positive side, the report notes that the number for households with two or more people living in them is down by nearly 6 million since April, while the number with one person living in it is down nearly 6.2 million.
There are also signs of progress on healthcare and other social issues.
A separate report released today by the Federal Reserve Bank of New York says that unemployment insurance claims for those ages 16 to 64 fell by more than half from April to August, a sign that the economy is returning to normal.
Also today, the Labor Department said that its Bureau of Economic Analysis report showed that the US economy grew at a 2.1 percent annual rate in the second quarter of 2017, the strongest pace since the first quarter of 2009.
Meanwhile, the US stock market has gained more than 4 percent since April and the dollar has gained $1.50 to $1 to the greenback.
If you are interested in learning more about the economic current events, economic events, or what to do if you’re in one of them, we suggest you check out TechCrunch’s Economic Current Events series.