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 US business activity cools in April; inflation measures mixed READ MORE US debt could balloon past the point of no return in 20 years. Here’s what it could mean and 3 assets investors can use to hedge, according to a Wharton professor. READ MORE Fed's Favored Inflation Measure May Show Softer Rise Than CPI Suggests READ MORE Fed's Inflation Blunder Sets Stage for Looming US Recession, Says Top Economist READ MORE Add a Comment Cancel replyYour email address will not be published.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