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The Federal Reserve Bank of Atlanta projects that GDP dropped a record –35.2% in the second quarter. Put simply: No event in American history has wrecked the U.S. economy faster than the pandemic-driven recession , or pancession for short.
But even before we get that official GDP number, the economy might already be turning the corner. The unemployment rate shot up from a 50-year low of 3.5% in February to a staggering 14.7% in April , but has since fallen two consecutive months coming in at 11.1% in June .
That has some economists saying the recession is technically over and we’ve moved into recovery or growth.
To give Fortune readers a better understanding of where the economy is and where it’s heading, we rounded up eight charts of economic data we’ve been tracking throughout the crisis:
The number of unemployed Americans topped 23.1 million in April, far above the peak of 15.4 million during the 2007–09 Great Recession years. But we’re already seeing people get rehired. Between April and June the number of unemployed Americans fell 5.3 […]
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