WASHINGTON (MarketWatch) — There’s more than a one-in-three chance of a U.S. recession in the next 12 months, J.P. Morgan Chase economists said Friday after the release of dismal jobs numbers.

The economists say there’s now a 36% chance of a recession in 12 months, the highest its recession tracker has been since the U.S. last exited recession, and up from 30% last month.