mathisworks/Getty Images
- The economy could be primed for a surge in layoffs by the end of 2024, economic experts say.
- That's because aggressive Fed rate hikes haven't been fully felt across the economy.
- Unemployment could rise to around 5% by year-end, according to economist David Rosenberg.
A wave of layoffs could be coming as companies deal with the reality of higher interest rates, economists say.
While the job market still looks strong on paper, hiring conditions are set for a slowdown later this year, according to David Rosenberg, economist and the founder of Rosenberg Research. That's because the economy — and what's been touted as a surprisingly strong job market — are actually weaker than they appear, he told Business Insider, predicting that unemployment could jump to 5% by the end of the year.