One key data line that flags a path to recession is the loss of residential construction workers, often a precursor to economic downturn, particularly when higher interest rates impact housing.
Despite a recent increase in unemployment, jobless claims haven't reached critical levels for a recession, yet construction sector dynamics could change that and drive unemployment above 5%.
Housing starts and building permit activity are now at levels akin to those seen during the brief pandemic recession, signaling concerning trends in the housing market.
Interestingly, while there are recession concerns, residential construction worker numbers are growing due to factors like a backlog of housing orders, complicating the typical economic indicators.
Collection
[
|
...
]