twitter.com/StockTipsTips/status/1616467834665672704
The U.S. economy is at increasing risk of a #recession in 2023, and according to the @IMFNews half of the EU will head into a recession this year. While travel is closely linked to the economy, we remain cautiously optimistic about the prospects of travel. t.co/wkTaafdDP5 pic.twitter.com/PBbnT1BHXz
— Skift (@skift) January 20, 2023
Tech appears to be going through its very own post-GFC moment.
The austerity isn’t going away anytime soon. After years of excess, 4% rates bite.
— Jonathan Ferro (@FerroTV) January 20, 2023
According to layoff tracker t.co/fzHN8kRyGa, 133 tech companies have laid off38,815 workers in 2023 so far. #Google #googlelayoffs #recession pic.twitter.com/FeJBpUaZYk
— puyad mukund (@MukundPuyad) January 20, 2023
Google Parent Alphabet to Cut 12,000 Jobs, Company Says — WSJ
Alphabet Cuts Follow Wave of Layoffs at Tech Companies — WSJ$GOOGL
— *Walter Bloomberg (@DeItaone) January 20, 2023
New Heritage Analysis Finds Average American Family Is Effectively $7,400 Poorer Under Biden
WASHINGTON—New data released Thursday showed prices have risen 13.7% since President Biden took office, as measured by the consumer price index (CPI). The overall price level declined 0.1% last month but increased 6.5% in 2022, a year which saw four-decade-high inflation.
Economist: U.S. Job Layoffs Far Higher Than Labor Department Reported
The U.S. Labor Department’s job openings report may have overlooked a recent upturn in layoffs, according to new research from Goldman Sachs.
Goldman economist Manuel Abecasis stated in a report that available job openings in the United States have declined by a large margin without a boost to the official unemployment rate.
Abecasis says that data from advance layoff notices, which is not reflected in the Labor Department’s layoff rate numbers, suggests more people have lost their jobs over the past few months than is being reflected in official records.
The Labor Department’s Job Openings and Labor Turnover Survey (JOLTS) reports that the layoff rate was 0.9 percent as of the last day of November 2022, which corresponds to 1.35 million lost jobs.