Unemployment will double to 6%-7% and a hard landing will hit by the end of 2024, a Mizuho strategist said. "The inflation decline is not a benign indicator of, oh, we've done it, we've got a soft landing." "The hard landing will be a sharp increase in unemployment," Mizuho strategist Dominic Konstam told Bloomberg TV on Monday, forecasting unemployment rates at 6% or 7% by the end of the year. The labor market is increasingly coming into focus in the soft landing debate, as hiring stalls and layoffs increase. "The inflation decline is not a benign indicator of, 'oh, we've done it, we've got a soft landing,'" he said.

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Persons: we've, —, Mizuho, Dominic Konstam, Goldman Sachs, Konstam, Powell Organizations: Service, Bloomberg, ata Locations: Covid