U.S. economy alarm bells as two signs of recessions emerge
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A cooling labor market and rising unemployment are raising concerns of a recession in the U.S. economy. Data from the U.S. Bureau of Labor Statistics shows that the country's labor force growth has slowed down and unemployment has risen over the past 12 months. The size of the U.S. labor force grew by 1,316,000, while the number of unemployed workers increased by 1,259,000 during that same period. The U.S. unemployment rate rose to 4.3 percent in July, its highest level since October 2021, and the U.S. economy created only 114,000 jobs, the second-lowest monthly gain in over four years. The Federal Reserve's decision to hold interest rates steady and the recent stock market plunge have also contributed to fears of a potential recession. However, some experts believe that the current slowdown in the labor market is in line with a soft landing and not necessarily a deterioration. Morgan Stanley experts project the Fed to cut interest rates three times in 2024, starting in September, and expect a soft landing rather than a recession. On the other hand, financial analyst Gary Shilling predicts a recession in the coming months based on leading indicators indexes, an inverted yield curve, the Fed's reluctance to cut rates, and a slowing labor market.
#UsEconomy #Recession #LaborMarket #Unemployment #FederalReserve #InterestRates #StockMarket
https://www.newsweek.com/us-economy-alarm-bells-two-signs-recessions-emerge-1938939
Newsweek /
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2024-08-14 10:13:29
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"content": "U.S. economy alarm bells as two signs of recessions emerge\n==========\n\nA cooling labor market and rising unemployment are raising concerns of a recession in the U.S. economy. Data from the U.S. Bureau of Labor Statistics shows that the country's labor force growth has slowed down and unemployment has risen over the past 12 months. The size of the U.S. labor force grew by 1,316,000, while the number of unemployed workers increased by 1,259,000 during that same period. The U.S. unemployment rate rose to 4.3 percent in July, its highest level since October 2021, and the U.S. economy created only 114,000 jobs, the second-lowest monthly gain in over four years. The Federal Reserve's decision to hold interest rates steady and the recent stock market plunge have also contributed to fears of a potential recession. However, some experts believe that the current slowdown in the labor market is in line with a soft landing and not necessarily a deterioration. Morgan Stanley experts project the Fed to cut interest rates three times in 2024, starting in September, and expect a soft landing rather than a recession. On the other hand, financial analyst Gary Shilling predicts a recession in the coming months based on leading indicators indexes, an inverted yield curve, the Fed's reluctance to cut rates, and a slowing labor market.\n\n#UsEconomy #Recession #LaborMarket #Unemployment #FederalReserve #InterestRates #StockMarket\n\nhttps://www.newsweek.com/us-economy-alarm-bells-two-signs-recessions-emerge-1938939",
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