Citibank predicts summer unemployment rise and September Fed rate cut
Updated
Updated · MarketWatch · May 8
Citibank predicts summer unemployment rise and September Fed rate cut
13 articles · Updated · MarketWatch · May 8
Citi said weaker hiring, especially for high school and college graduates seeking entry-level jobs, could push the jobless rate above its recent range in late summer.
Its economists said recent summers have shown a pattern of more young people entering the labour force but struggling to find work quickly.
The forecast keeps Citi among Wall Street's more pessimistic voices after the April jobs report and points to easing by the Federal Reserve if labour-market weakness deepens.
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