Wharton professor Jeremy Siegel expects unemployment to spike - but says that could help the US escape a recession

Dec 15 2022 by Business Insider

 
Jeremy Siegel.

REUTERS/Steve Marcus

Jeremy Siegel expects a labor-market downturn to help the US economy avoid a recession. The Wharton professor sees more productive workers shoring up growth and corporate profit margins. Weaker jobs data could lead the Fed to stop hiking interest rates and end its war on inflation.

An impending slump in the US job market could be the unlikely key to escaping a recession, Jeremy Siegel has said.

"Employment has yet to soften notably, but I think the jobs data...

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