Unemployment Rates Rise in 15 States, Sparking New Recession Worries
• Unemployment rates rose in 15 states in December, up from just 3 states the prior month, sparking recession concerns • Sahm Rule indicator showing 20 states have crossed threshold typically signaling a recession is coming • Massachusetts and Rhode Island saw the largest monthly increases at 0.3 percentage points • Nevada had the highest unemployment rate nationwide at 5.4 percent • Investors grew more confident at end of 2023 that a recession could be avoided, but new data raises alarms