Chief Economist Warns Of High Chances Of Recession Due To Rising Unemployment And Declining Consumer Spending
The chances of the economy sliding into a recession are “extremely high,” as the United States is on the brink of experiencing a surge in unemployment and a significant decline in consumer spending.
Joe LaVorgna, the chief economist of SMBC Nikko Securities, remains one of the few voices on Wall Street expressing concern about the potential for a looming recession. This comes at a time when other forecasters are revising their outlook due to a strong economy and a robust labor market.
Older Americans are struggling to afford food at an alarming rate — and it’s expected to get worse. Why U.S. seniors are getting left behind
At a time when retirees should be enjoying leisure activities and travel, they’re instead grappling with putting food on the table.
According to a new study featured in the Journal of the American Medicine Association (JAMA), food insecurity has greatly increased over the past 20 years for American families with adults over the age of 60.
The researchers discovered that 1 in 8 families with older adults (12.5%) struggled with food insecurity between 1999 and 2003. However, this number now sits at 1 in 4 families (23.1%) between 2015 and 2019.
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