When the economy is said to be "in a trough," it is typically characterized by:

When the economy is described as being "in a trough," it signifies a distinct low point in the economic cycle. This phase often coincides with a significant decline in business activity and economic output. A notable characteristic of a trough is the presence of high unemployment rates, as businesses may be operating below capacity and may have laid off workers in response to decreased demand for goods and services.

During a trough, consumer confidence is typically low, which leads to reduced consumer spending. This lack of spending further exacerbates the economic slowdown, as businesses have less incentive to hire or invest. Thus, high unemployment rates are a clear indicator of the difficulties faced in this phase of the economic cycle, making it the defining characteristic of a trough.