Rising Unemployment Rate Sparks Economist's Recession Worries

• Unemployment rate rise to 3.9% makes economist David Rosenberg concerned about a surprise recession • 0.5 percentage point unemployment rate increase from lows historically signals impending recession • Negative revisions to recent jobs reports suggest contracting labor market to Rosenberg • Layoffs increasing in tech and banking while temp agency jobs dropped sharply • Rosenberg taking defensive stance on economy and stock market despite recent gains