Recession held off by strong employment numbers
UC economist tells WLWT unemployment rate is similar to pre-pandemic level
While there are signs the economy is approaching a recession, a University of Cincinnati economist told WLWT there’s a key reason why the National Bureau of Economic Research hasn’t declared one.
Hernan Moscoso Boedo, PhD, associate professor of economics at the University of Cincinnati Carl H. Lindner College of Business.
Hernan Moscoso Boedo, an associate professor of economics in the Carl H. Lindner College of Business, said the United States remains close to full employment.
The unemployment rate currently is 3.6% — the same number as December 2019, prior to the COVID-19 pandemic.
There are several factors that determine whether the economy is in a recession with the unemployment rate being one of the most important.
“I think, usually, people connect recession to issues of unemployment,” Moscoso Boedo said. “That's why we're not calling it a recession because unemployment is such, it’s almost at the same level as it was in December 2019.”
Featured image: Carl H. Lindner College of Business.
Next Lives Here
The University of Cincinnati is classified as a Research 1 institution by the Carnegie Commission and is ranked in the National Science Foundation's Top-35 public research universities. UC's medical, graduate and undergraduate students and faculty investigate problems and innovate solutions with real-world impact. Next Lives Here.
Related Stories
Will a gas tax help lower prices at the pump?
May 14, 2026
WCPO recently reported on Kentucky and Indiana’s steps to combat surging gas prices, cutting and suspending state gas taxes, respectively. UC economist Michael Jones explained the impact on Cincinnati.
Is a colonoscopy painful?
May 13, 2026
The University of Cincinnati's Susan Kais, MD, assistant professor of clinical medicine in the Division of Gastroenterology and Hepatology in the College of Medicine and UC Health gastroenterologist, recently appeared on the ARC Cincinnati morning program on Local 12/WKRC-TV to answer common questions from viewers about colonoscopies and to dispel myths.
Telescope captures information about lonely Jupiter-like gas giant
May 13, 2026
Science outlets highlight a University of Cincinnati student's collaborative discoveries about an exoplanet 901 light years away.