Financial analyst Gary Shilling warns there are 'preliminary signs of weakness' in the labor market.
The U.S. economy is not yet out of troubled waters and could still face a 'delayed' recession, according to Gary Shilling.The financial analyst, who correctly predicted the crisis of 2007-2008, said that the resilience in the U.S. economy since the end of the pandemic has mostly been due to the labor market, but this might start to slow down in the near future.
Newsweek contacted Shilling for comment by email on Monday.Any prediction made by Shilling is usually taken seriously considering that he was proven to be correct in his previous warnings. In 2007, he warned that 'housing would sink the economy' ahead of the bursting of the housing bubble. In 2008, he said a 'serious recession' was likely to consume the U.S. economy—and it did.
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