By Katabella Roberts The number of Americans filing new claims for unemployment benefits reached its highest level since August 2023 last week, according to data published by the Bureau of Labor Statistics on May 9. First-time applications for unemployment benefits for the week ending May 4 soared by 22,000 to 231,000—up from 209,000 the week […]
Tag: Economic Recession
In economics, a recession is a business cycle contraction when there is a general decline in economic activity. Recessions generally occur when there is a widespread drop in spending.