Third: Recession risks are rising.

Unemployment has risen nearly a full point over two years—not enough to trigger the Sahm Rule, but increases this large historically put us near the tipping point.

Any new shock (data center bust?) could tip us into a recessionary spiral.

Second, some trouble. A weakening labor market hits some workers much harder than others.

Over the past year:
⬆️ White unemployment: up 0.1 points
⬆️Black unemployment: up 1.8 points

Tight labor markets are a tool for racial justice. Weak ones widen the gap.

First, the good news: The post-pandemic recovery was the most successful countercyclical policy in U.S. history.

Prime-age employment hit 80.7%—a level only exceeded briefly in 1997-2001.

Recovery from past recessions took up to 12 years. This one took three.

Why did the US take so long to arrive at the golden share solution?

As former Biden official @alexsjacquez.bsky.social told @zeitlin.bsky.social, "It’s honestly embarrassing that Republicans beat us to actually implementing a golden share or something like it.”
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