Economics
U.S. Economic Recovery Is Stalling and It May Get Even Worse
- Rise in jobless claims caps weeks of warning signs in data
- Pullback in federal aid would risk a double-dip recession
A vehicle rides along a nearly empty highway in Atlanta, Georgia, U.S., on July 21.
Photographer: Lynsey Weatherspoon/BloombergThis article is for subscribers only.
The official numbers have begun to confirm what many Americans feel in their bones: the economy is buckling once again.
Despite assurances from the Trump administration that better times are at hand, the worsening pandemic is restraining or even snuffing out the economy’s nascent recovery. From restaurant dining to air travel and now to filings for unemployment benefits, a growing body of evidence indicates America’s rebound from the pandemic is stalling days before hundreds of billions of dollars’ worth of federal aid is set to expire.