RSM Economist Warns of Up to 700,000 Furloughs in US Shutdown
Joe Brusuelas forecasts a significant temporary workforce reduction as the US nears a potential government shutdown, likely impacting unemployment figures.
Summary
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Terms & Concepts
Furlough: A temporary leave of employees due to special needs of a company or government, often without pay.
Government Shutdown: A situation where nonessential discretionary federal programs close due to lack of funding approval.
Unemployment Rate: The percentage of the labor force that is jobless and actively seeking employment.