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 Global Bond Markets Surge Amidst Softening US Job Openings READ MORE Powell to Defend Fed's 'Higher-for-Longer' Rate Policy in Congressional Testimony READ MORE Ports as Pawns: The $2 Trillion Transformation of Global Trade Hubs READ MORE U.S. Economy Defies Expectations with 2.8% Growth in Q2 READ MORE Fed's Goolsbee Signals Readiness for Rate Cuts as Inflation Eases READ MORE Add a Comment Cancel replyYour email address will not be published.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