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Time To Prepare For A Recession

(Harvest) After seven years of expansion, the US economy appears to be headed for a recession. Earlier this month, a weak jobs report bolstered fears that hiring has been slowing and hundreds of thousands have been dropping out of the labor force. Employment growth is running at half the pace it was in 2015. Meanwhile, the Fed’s broader Labor Market Conditions Index has been dropping, economists have lowered their estimates of job growth over the next 12 months, business capital investment is falling, the manufacturing sector is on the verge of contracting, and the economy grew at a rate of only 0.8% in the first three months of this year.

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