US Economics Weekly
Citi·2024-08-13 09:14
Viewpoint | Citi Research 09 Aug 2024 16:10:46 ET | 25 pages US Economics Weekly Rising unemployment is not "transitory" CITI'S TAKE The rise in the unemployment rate is the clearest sign yet that rather than achieving a "soft landing" the US economy is more likely to slide into recession. Attempts to explain away softer labor market data as a weather- related distortion are reminiscent of claims that elevated inflation would prove to be "transitory." Standard macroeconomics provides a more straightforward ...