In a report released by the National Bureau of Economic Research (NBER), it was seen that the GDP level had reduced a second time, which is the usual indicator of a recession. However, despite the data showing a reduction in consumer spending, the NBER has announced they believe the economy is not in a recession.

Over the past couple of weeks, investor confidence has been dropping in both the crypto and stock markets. Moreover, with the current economic climate, many investors have begun offloading most of their investments as there are rising concerns about a potential recession, leading to a crypto bear market.

When the COVID-19 pandemic initially hit, the majority of employees at some companies began working remotely until they were cleared to return to the office. The integration of work flexibility allowed employees to continue working and earning money while being in the comfort of their homes.

Currently, due to various domestic and international events going on right now, the United States (U.S.) economy is performing poorly. From high gas prices to even higher inflation rates, some people are speculating the worst.

Although the majority of industries are aggressively hiring, there is one major sector that is going in the opposite direction of everyone else–the technology industry. The once-booming industry has begun laying off people or going through a hiring freeze.

The Social Security Act, passed passed 86 years ago, is a key component of retirement income for nearly all individuals. Social security insurance also provides a safety net should a worker become disabled or a family lose their breadwinner.

The rise in the number of jobs available caused the unemployment rate to drop to 3.8 percent, down from 6.2 percent in February 2021. As the unemployment rate continues to decline and more people can find jobs.

The coronavirus pandemic exposed the dire need for people to access inclusive financial services, mainly since the pandemic has caused people to scramble to obtain funds for their essential needs.

A study conducted by the Peterson Center on Healthcare and Kaiser Family Foundation revealed that healthcare costs increased by a trillion dollars from 2009 to 2019.

The COVID-19 pandemic continues to be a global issue as new variants are spreading. As people continue to struggle, 2021 ended without a fourth stimulus check to keep households afloat.

A recent study was conducted by economists at MIT, the University of California, Berkeley, the London School of Economics, and the University of Cologne. The study results showed that workers of low wages or underpaid wages believe that other workers doing the same work are making similar incomes. More workers would quit or ask for raises if they had access to information about other workers’ wages, claims an Economist at UC Berkeley.