Unemployment is Rising: Is This the Last Straw That Leads to Recession? | Your Personal Bank Ep 45

Unemployment is Rising: Is This the Last Straw That Leads to Recession? | Your Personal Bank Ep 45 | 07-16-24

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Ferenc Toth is founder of Your Personal Bank TM. He is passionate about helping people gain control of their money, create tax-favored income, and having access to more funds over their lifetime! Ferenc is a voice for common sense. He cuts through the noise to help us understand how current events affect our money, economy, and our freedom.

High Inflation is no longer the only risk to the economy according to Jerome Powell, Federal Reserve Chairman. Unemployment has risen over the past three months.

The “Sahm Rule” says that when the three-month moving average of the jobless rate rises by at least a half-percentage point from its low during the previous 12 months, then a recession has started. This rule would have signaled every recession since 1970.

Unemployment is currently 0.43% higher than it was last year. If unemployment increases another 0.07%, one of the most accurate economic indicators predicting recession will trigger.

I believe we are in for a chaotic year and a bumpy economic ride this year. It would be wise to protect your assets. Diversify. Reduce your risk. Reduce your tax liability. Increase returns safely. Increase liquidity to take advantage of future opportunities.

This is the best time to invest in high cash value dividend paying policies and annuities in 40+ years due to higher interest rates!

You can invest in high cash value Your Personal Bank TM policies that are insured, with guarantees, income tax-free, highly liquid, and likely to increase returns for the next 5-10 years!