Average Hours Worked Drops, Raising Concerns Of A Looming Recession

US President Joe Biden (C) tours the Philly Shipyard before speaking about his economic plan Bidenomics, in Philadelphia, Pennsylvania, on July 20, 2023. (MANDEL NGAN/AFP VIA GETTY IMAGES)

As economists debate the possibility of an impending recession, a key metric is catching their attention as a potential warning sign.

Philly Shipyard employees wait to hear U.S. President Joe Biden make a campaign appearance and clean energy announcement at the Philly Shipyard on July 20, 2023, in Philadelphia, Pennsylvania. Beforehand, Biden attended a ribbon cutting at the shipyard for a new offshore wind vessel called the Acadia which will be employed in the building of offshore wind farms. (SPENCER PLATT/GETTY IMAGES)