Recession will strike this year with 21 states flashing red already, top economist says

• Rising unemployment in 21 states points to a recession later this year, Nancy Lazar says.
• Piper Sandler's top economist flagged stark divides between the rich and poor, and big and small.
• A recession would probably hit stocks and home values, but inflation and interest rates could fall.

Job markets in nearly half of US states are flashing red, signaling a recession will hit by the end of this year, one expert warned.

Nancy Lazar, Piper Sandler's chief global economist, told Business Insider that unemployment has risen significantly in 21 states.