Number of unemployed Americans for 27 weeks & over SKYROCKETED by 36% year-over-year in June

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The unemployment rate in America has risen from 3.4% to 4.1%, with the raw number of unemployed Americans spiking over the last year. The net result is that the US economy is inching closer and closer to recession.

Historically – when the unemployment rate increases this much in a short period of time, it signals that the economy is building negative momentum that becomes self-reinforcing, and eventually results in a widespread recession.

This same increase in unemployment occurred in late 2007 and mid-2000 before the Great Financial Crisis and Dotcom Bubble Bursting.

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