Tuesday, February 28, 2023

Jobs during "rollin recessions"

 "Rolling recession" is the term being popularly used for the U.S. economic slowdown since early 2022. It also means that easier employment will be available in some industries. Although not being in an official recession, some sectors will feel like they are in a contraction. Economists say that the labor market remains tight compared to pre-pandemic levels, but has seen gradual decreases and will continue to do so for the upcoming months. 

It will be easier to find jobs in government administration, education, and consumer services. Industries like tech, entertainment, information and media, professional services, retail, and financial services will have moderately tighter markets. Extremely tight labor markets include accommodation, oil and gas, hospice and health care. 

No slowdown is expected in "recession proof" industries: government, utilities, education and consumer services. Even though the labor market demonstrates strength and overall healthiness, economists still believe in an approximating recession; with no significant impact on labor markets.


https://www.cnbc.com/2023/02/12/heres-where-the-jobs-will-be-during-the-rolling-recessions.html

1 comment:

  1. It is encouraging for our demographic specifically as we are about to enter the labor market in the coming years that there does not appear to a significant impact on labor markets. I remember hearing stories from the recession in 2008 of new graduates having to go back to living at home because there we simply not enough jobs for them.

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