A cooling labor market is raising concerns that the U.S. economy might be heading toward a recession after all this year, instead of making the soft landing projected by most experts.
Housing expert and journalist Lance Lambert shared data from the U.S. Bureau of Labor Statistics on Tuesday showing that the country’s labor force growth has slowed down and unemployment has risen over the past 12 months.
These are two trends that are usually observed before a recession, he wrote on X. “We’re seeing both,” Lambert said. “The pandemic/post-pandemic economy is unique in many ways,” he added in another post. “But if economists are going to tell us to disregard many traditional recession indicators, then it’s fair to ask them what economic data would they need to see roll over in order to be concerned?”
Data compiled by Lambert for ResiClub found that, over the past 12 months, the size of the U.S. labor force grew by 1,316,000; during that same …