Signs of an Impending 2024 Recession, Says Citi's Top Economist Despite the seemingly robust indicators of historically low unemployment, strong consumer spending, and solid GDP growth, the US is on a path towards a recession by mid-2024, according to Citi’s chief US economist. While recent data, including a blowout January jobs report adding 353,000 jobs, paints an optimistic picture, deeper analysis reveals concerning signs. The labor market, a critical component of economic health, exhibits vulnerabilities such as a decline in the number of hours worked, a reduction in full-time employment, and a hiring freeze in sectors like the restaurant industry. These underlying issues suggest that the surface-level economic strength may be misleading, signaling potential trouble ahead for the US economy. « Previous Article Next Article » Share This Article Choose Your Platform: Facebook Twitter Google Plus Linkedin Related Posts Home Price Growth Decelerates as High Rates Dampen Buyer Enthusiasm READ MORE Powell Signals No Rate Hike Despite Persistent Inflation READ MORE Central Bankers Plan Record Increase in Gold Reserves, Survey Finds READ MORE Wall Street Weighs Impact of Biden-Trump Rematch on Financial Markets READ MORE Fed's Latest Decision: Status Quo on Rates, but Change is in the Air READ MORE Add a Comment Cancel replyYour email address will not be published. Required fields are marked *Name * Email * Save my name, email, and website in this browser for the next time I comment. Comment