Everand Logo

Welcome to Everand!

  • Los Angeles Times

    With a recession looming, here's what you need to know about unemployment insurance

    by Madalyn Amato, Los Angeles Times Jul 05, 2022 7 minutes
    A man walks past a "now hiring" sign posted outside of a restaurant in Arlington, Virginia on June 3, 2022.

    The U.S. economy contracted by 1.6% in the first quarter of this year, setting the stage for a recession if economic output declines again in the second quarter, said economist Anil K. Puri, director of the Woods Center at Cal State Fullerton.

    It may be a bit too early to tell whether we'll get there, Puri said. But the higher interest rates, supply shortages and high inflation that have flared up in the last two years are good indicators that a recession may be on the horizon.

    But there's no one formula for triggering a recession. Puri said that each of the previous U.S. recessions — which have struck every 6½ years or so since 1945, according to reporting from The Times — has been preceded by its own unique circumstances. Those circumstances have also affected the duration and severity of the downturns.

    Nevertheless, Puri predicted that if the GDP doesn't improve by next quarter, you can expect to see a decline in employment, income and spending.

    The California economy is reasonably strong at the moment. Its unemployment rate stood at 4.3% in May 2022, close it its pre-pandemic low (although higher than the ultra-low national average of 3.6%).

    You’re reading a preview, subscribe to read more.

    More from Los Angeles Times

    Los Angeles Times3 min readCrime & Violence
    Carvalho Faults Alleged Actions Of School Safety Worker Who Failed To Stop Fatal Fight
    LOS ANGELES — The Los Angeles school district has removed a campus-safety contractor from Washington Preparatory High School after an adult — who apparently worked for the contractor — refused to intervene before a fight that ended with the death of
    Los Angeles Times8 min read
    Beyond Erewhon: Inside The LA Grocery Store Where All The Cool Vegans Are Flocking
    LOS ANGELES -- On a rainy Saturday afternoon in late March, a block of East Hollywood is unusually quiet but for the corner of Fountain Avenue and North Edgemont Street. There, a line snakes halfway around the perimeter of a little vegan grocery stor
    Los Angeles Times3 min read
    Commentary: USC’s ‘Security Risk’ Rationale To Thwart Peaceful Protest Is Not Justified
    During Vietnam War protests, the Nixon administration called them “outside agitators.” Now my university’s provost prefers “participants — many of whom do not appear to be affiliated with USC.” Beyond Andrew Guzman’s misdemeanor of wordiness, the pla

    Related Books & Audiobooks