Unfortunately for the retrumplicans, who desperately want an
economic downturn because they think it will help them politically, we
ain't suffering yet, or at least not any more than usual. The suffering
we're headed for will be minimal and most of it will happen after the
upcoming elections.

"The Fed says unemployment will rise. Here's who economists say would
lose their jobs first.

Job losses would fall disproportionately on vulnerable workers,
economists say."

"The Federal Reserve escalated its fight against inflation this week, instituting a major rate increase and saying more will likely follow.
The moves will cause a jump in the number of unemployed Americans by the
end of next year, the central bank said.

The Fed has put forward a series of aggressive interest rate hikes in
recent months as it tries to slash price increases by slowing the
economy and choking off demand. But the approach risks tipping the
United States into a recession and causing widespread joblessness.

Fed Chair Jerome Powell on Wednesday acknowledged that rate hikes would
cause pain for the U.S. economy, as growth slows and unemployment rises.
He added, however, that "a failure to restore price stability would mean
far greater pain later on."

The job losses forecasted by the Fed this week would by the end of 2023
raise the unemployment rate from its current level of 3.7% to 4.4%. That outcome would add an estimated 1.2 million unemployed people, according
to Omair Sharif, the founder of research firm Inflation Insights."

https://abcnews.go.com/Business/fed-unemployment-rise-economists-lose-jobs/story?id=90375709

For us that will still be an unusually low unemployment rate. For comparison and context, we currently have almost 160 million people who
are employed.

https://www.macrotrends.net/1316/us-national-unemployment-rate

TB

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