A legendary economist says the declining job market is the ultimate indicator that the is headed toward a recession.
David Rosenberg, who predicted the 2008 downturn while he was Merrill Lynch's chief economist, recently told clients the revelation that was the largest downward revision since the Great Recession.
The Bureau of Labor Statistics said the jobs growth data from March 2023 to March 2024 was actually 30 percent less than its initial figure of 2.9 million, a devastating blow Rosenberg says may spell doom in the near future.
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