2023 Labor Outlook: Layoffs, Automation on Horizon

Inflation threw a wrench into pandemic recovery, and with interest rates rising and the threat of a recession looming, the 2023 labor market could look very different than it does today.
Major tech companies have announced tens of thousands of layoffs in recent weeks while mortgage interest rates are at levels not seen in two decades, putting a damper on growth. Pandemic-induced supply chain issues have forced many manufacturers to lay off workers. The Federal Reserve has said it will keep raising interest rates until it has tamed inflation, which until last month was running above 8%. Click here to read the full article.