US Job Market Losing Buffer: Zandi's Recession Warning

Economist Mark Zandi from Moodys Analytics warns of a looming recession, as the US job market shows signs of strain. Job openings remain stagnant, layoffs are increasing, and fewer people are quitting their jobs, indicating worker hesitancy. Private indicators paint an even grimmer picture, with private employers cutting jobs for the first time in over two years, primarily affecting small businesses. Zandi argues that these cuts could signal broader layoffs if economic conditions worsen, with young workers and Black workers already feeling the impact. The Federal Reserve is considering an interest rate cut to prevent a rapid labor market deterioration.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.