A top economist warns that thinly spread job gains typically coincide with recessions, raising red flags about the U.S. labor market’s health. With multiple outlets calling August’s jobs report “disappointing,” experts fear the economy may be on the brink of a downturn.

Bessent predicts the U.S. economy will rebound strongly by the fourth quarter, citing job figures and Federal Reserve policy decisions as key factors. He also suggests that 2024 job statistics could see a substantial downward revision, keeping labor data firmly in the spotlight.

A fresh business update reveals a significant slowdown in the job market, casting doubt on earlier optimism. Amid signs of inflation ticking upward, the discrepancy between last year’s economic assurances and current market trends has become increasingly visible.