Preetham Mohan, Shirlyn Wang, Zhengjun Liang, April Nellis, Tejaswi Tripathi, Boyang Wu
We predict the possibility of economic recession through analysis and prediction of employment outlook and trends through data-driven analysis. To do this, we consider various economic factors such as GDP, consumer and commercial loans, and the federal funds rate in determining future employment gains or losses. We find that accurate predictions rely on a combination of many factors, and based on these factors, we built machine learning models that allow us to predict future employment changes. Employment has profound implications for economies, businesses, and individuals and therefore predictive models are essential for policymakers, investors, and the general public. Our models can assist these key stakeholders in making better-informed decisions.