{"id":1188,"date":"2016-01-18T17:36:19","date_gmt":"2016-01-18T16:36:19","guid":{"rendered":"https:\/\/lazardfreresgestion-tribune.com\/?p=1188\/?p=1188"},"modified":"2023-02-13T14:23:46","modified_gmt":"2023-02-13T13:23:46","slug":"a-us-recession-imminent-not-according-to-the-job-statistics","status":"publish","type":"post","link":"https:\/\/latribune.lazardfreresgestion.fr\/en\/a-us-recession-imminent-not-according-to-the-job-statistics\/","title":{"rendered":"A US recession imminent? Not according to the job statistics"},"content":{"rendered":"<h2><b>CHART OF THE WEEK<\/b><\/h2>\n<p>The market downturn as well as disappointing manufacturing sector indicators have led to a multitude of predictions that a US recession is imminent. <b>We are not of this opinion. <\/b><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-1199 aligncenter\" src=\"https:\/\/latribune.lazardfreresgestion.fr\/wp-content\/uploads\/2016\/01\/Graph-sem-1.jpg\" alt=\"Graph sem 1\" width=\"1087\" height=\"614\" srcset=\"https:\/\/latribune.lazardfreresgestion.fr\/wp-content\/uploads\/2016\/01\/Graph-sem-1.jpg 1087w, https:\/\/latribune.lazardfreresgestion.fr\/wp-content\/uploads\/2016\/01\/Graph-sem-1-300x169.jpg 300w, https:\/\/latribune.lazardfreresgestion.fr\/wp-content\/uploads\/2016\/01\/Graph-sem-1-768x434.jpg 768w, https:\/\/latribune.lazardfreresgestion.fr\/wp-content\/uploads\/2016\/01\/Graph-sem-1-1024x578.jpg 1024w, https:\/\/latribune.lazardfreresgestion.fr\/wp-content\/uploads\/2016\/01\/Graph-sem-1-600x339.jpg 600w\" sizes=\"auto, (max-width: 1087px) 100vw, 1087px\" \/><\/p>\n<p><b>OUR ANALYSIS<\/b><\/p>\n<p>We believe that the US economy is in the midst of a manufacturing sector correction stemming from the fall in oil prices and the need to run down undoubtedly high inventory levels. However, aside from the manufacturing sector, <b>we think that growth should remain on the right track<\/b>: job creation is high and buoying household disposable income. Net of inflation household income is still growing. The construction sector is also healthy and government expenditure, having held the market back for a long time, is now contributing to it slightly.<\/p>\n<p>As for the economic backdrop, we have yet to see an increase in the number of weekly unemployment claims. <b>In our view, this statistic is one of the best indicators of the US economic environment<\/b> and tends to rise when the economy is heading towards a recession. <b>At the moment, unemployment claims remain at very low levels leading us to believe that US growth is set to continue in 2016.<\/b><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"color: #333333; font-family: 'Arial',sans-serif; font-size: 8pt;\">This document is not pre-contractual or contractual in nature. It is provided for information purposes. The analyses and descriptions contained in this document shall not be interpreted as being advice or recommendations on the part of Lazard Fr\u00e8res Gestion SAS. This document does not constitute an offer or invitation to purchase or sell, nor an encouragement to invest. This document is the intellectual property of Lazard Fr\u00e8res Gestion SAS.<br \/>\n<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>CHART OF THE WEEK The market downturn as well as disappointing manufacturing sector indicators have led to a multitude of&hellip; <\/p>\n","protected":false},"author":101016,"featured_media":1202,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[148],"tags":[],"class_list":["post-1188","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-chart-of-the-week"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>A US recession imminent? 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