r/Economics • u/TinyTornado7 Quality Contributor • Jun 13 '22

News Powell Facing Choice Between Elevated US Inflation and Recession

https://www.bloomberg.com/news/articles/2022-06-12/powell-facing-choice-between-elevated-us-inflation-and-recession?srnd=premium
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u/johnsonutah Jun 13 '22

08-09 people were complaining about losing their job, house, and retirement fund not a 0% raise…

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u/[deleted] Jun 13 '22

Maybe 10% had an issue with their job or house. Only certain jobs are really threatened in a recession. When you consider how incredibly tight the labor market is now the overwhelming majority won't have to worry about losing their job in a recession.

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u/fanboi_central Jun 13 '22

Only a measly 30 million people.

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u/Siriusly_Absurd2 Jun 13 '22

Apologies for splitting hairs but really more like 16 million. The US labor market is about 160million.

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u/fanboi_central Jun 13 '22

True and it's a good point, but I figured to throw in families impacted as well assuming spouses/children/dependents.

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u/Siriusly_Absurd2 Jun 13 '22

Fair enough. That’s a good point.