datoid

December 2001 unemployment reached 5.70%, marking a 2.6 standard deviation spike above the 60-month average of 4.49%. This represents a sharp deterioration from the 3.8-4.1% range that persisted through 2000. The timing coincides with multiple economic pressures: Treasury yields jumped 10.6% over 3 months to 4.47%, while GDP growth slowed to 1.4%. Consumer prices hit record levels with 1.8% quarterly inflation. This unemployment surge suggests the economy entered a significant downturn by late 2001. What other labor market indicators might confirm this shift?