Fed mouthpiece: unemployment rate shows US economy is getting closer to recession

Nick Timiraos, the "Federal Reserve mouthpiece," said that the U.S. unemployment rate rose from 3.96% in May to 4.05% in June. The data has risen by 0.22% since March (3.83%). From the Sam's rule, the 3-month average has risen by 0.42% from the 12-month low, which is getting closer to the 0.5% threshold. The connotation of the "Sam's rule" is that when the 3-month average of the unemployment rate is 0.5 percentage points higher than the 12-month low, the economy is in recession. (Jinshi)