Nobel laureate and Yale University economist Robert Shiller is in the camp of experts who believe the odds of a recession are very low.
He just tweeted the following about a post from White House Council of Economic Advisers chair Jason Furman about various economic indicators:
Below is the chart in question. Furman says the average work week in manufacturing hit 42 hours in November and March, a level not seen since July 1945. It came down in December, January, and February, likely because of weather, but came back up last month.
As you can see, we’ve never been anywhere close to a recession when the work week is this long.