The US will see more frequent recessions in this decade, Lakshman Acuthan, managing director of Economic Cycle Research Institute, told CNBC on Friday.
"Half of the slowdowns that you see in our history turn into recessions, roughly," he said. "The problem is that because of lower trend growth and higher volatility we're going to have more frequent recessions in this decade."
This comes at a time when the government released its latest monthly jobs report, indicating that the unemployment rate remains close to 10 percent. The U.S. economy lost 125,000 jobs in June, more than economists had forecast.
While the jobs report reveals a short-term snapshot of the health of the economy, said Acuthan, "forward" economic indicators like profits growthhave yet to decline in a way that's typically consistent with recessions.
"You don't have to wait for all the bad things that occur to be solved before there is a recovery," he said. "If you do, you're going to be waiting a long time, and you're going to miss what happened last year."
The Economic Cycle Research Institute is an independent institute dedicated to economic cycle research.