Recession Triggered: Payrolls Miss Huge, Up Just 114K As Soaring Unemployment Rate Activates "Sahm Rule" Recession

"BLS reported that in July, the US added just 114K payrolls, a huge miss to expectations of 175K and also a huge drop from the
downward revised June print of 206K, now (as always) revised to just 179K. This was the lowest print since December 2020... Cluadia Sahm indicates, a recession has now been triggered. The rule, for those who don't remember is that a recession is effectively already underway if the unemployment rate (based on a three-month moving average) rises by half a percentage point from its low of the past year. And that's what just happened, with the unemployment rate surging 0.6% from the year's low."
ZeroHedge