‘How is it that there has not been one fulltime job created in the United States since last February?’
February 18, 2024 A man shops at a supermarket. / PHOTO: AP (Bethany Blankley, The Center Square ) – Americans should brace for and expect a recession this year, economists are warning, arguing the details of the latest jobs report are not a good indicator.
Even though the Federal Reserve has not yet forecasted a recession and is expected to cut the Fed funds rate in March, some economists are predicting a recession, with more layoffs expected to drive up the unemployment rate.
“There’s this very powerful and seductive narrative around a soft landing, and we’re just not seeing it in the data,” Andrew Hollenhorst, a chief economist for Citibank, told CNBC on Thursday. “Inflation is running too high.”Despite a strong jobs report of 353,000 jobs added in January, he explained, what matters […]
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