Revelations 18:23:’For the merchants were the great men of the earth; for by thy sorceries were all nations deceived.’
- More US companies brace for job cuts amid likely recession, survey shows
- A new survey published on Monday by the National Association for Business Economics, which shows that about 20% of the group’s members expect employment at their company to fall in the coming months.
- Wage growth has been a big contributor to stubbornly high inflation, which remains about three times higher than the pre-pandemic average.
- The results “indicate widespread concern about entering a recession this year,” Coronado said. More than half of respondents see the possibility of a recession over the next year at 50% or higher, the survey showed.
- The economy added just 223,000 jobs in December, the smallest gain in two years, and there have been a number of high-profile tech layoffs over the past month.
- Federal Reserve officials have made it clear that they expect unemployment to climb as a result of their aggressive interest rate hike campaign
- That could mean more than 1 million Americans lose their jobs over the course of this year.
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