The economic machine chugs along

A slight unemployment uptick has not thrown a spanner in the works, meaning a recession is still unlikely. Here’s why.

More Americans are struggling to find a job today than a year ago. The unemployment rate was 3.5% in June last year. Now it’s 4.0%, a slight uptick. This rise has some pundits on edge, especially the doom ‘n gloomsters. They’ve started to point at a little-followed but excellent recession indicator called the Sahm rule to back up their recession fantasi…