Wilbur Ross: US Economy Dangling on Verge of Recession

The U.S. economy is poised to slide into a recession thanks to anemic job growth, weak industrial production figures and consumers who spend more than they’re taking home, says international investor Wilbur Ross, CEO of WL Ross & Co.

A slew of dismal economic indicators points to a fresh economic downturn in the world’s largest economy, especially the Bureau of Labor Statistics May jobs report.

“In the most recent jobs report, only 69,000 net jobs were created. We need to create over 100,000 just to keep the unemployment rate constant,” Ross tells Reuters.

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