The US economy will start losing jobs by the end of this year, top economist says

• The economy is about to see net job losses as firings pick up, David Rosenberg says.
• The economist says it's only a matter of time before layoffs exceed new hires.
• He has predicted the unemployment rate will jump past 5% by the end of the year.

The US could start to see negative employment reports rolling in by year-end.

That's according to David Rosenberg, a top economist who's been warning of weakness in the US labor market for months.

The Rosenberg Research founder foresees the unemployment rate rising past 5% by the end of the year.