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Insights, advice and industry news from our experts.

Update on the Recession

An Update on Concerns of a Recession

Amid concerns of a recession remaining top of mind for many, new insights from experts indicate we may not be heading into quite the turmoil as previously expected. In fact, Jamie Dimon, CEO of JP Morgan, said on Wednesday that we “Will enter a mild recession in the second half of 2023. We’re effectively looking for a Category 1 economic hurricane.” Additionally, Goldman Sachs analysts predict the very real possibility that the U.S. may even avoid a recession in 2023. We will know more information once the Federal Reserve meets for its December policy meeting.

Will the recession be as steep as previously assumed by experts?

Even though StaffingHub has pointed out how “The US Conference Board Leading Economic Index (LEI) declined 0.8% to 114.9 in October, after falling 0.5% in September (revised), signalling that a recession may be right around the corner. This is the eighth consecutive month the index has declined, dropping 3.2% over the last six months,” however, it’s important to note that the entire impact is expected to be minimal.

At APC, we recognize how challenging it can be – even in the IT industry – to navigate what all these hiring freezes and layoffs mean for the forecast of the industry as a whole. But not to worry, you’re in good hands with us. No matter where you are in your hiring journey, APC can meet you where your needs are. Reach out to our team today!

And while you’re here, don’t forget to view all of APC’s thought-leadership pieces, which cover a range of informational articles for both employers and professionals on topics like resume help, a study on the Great Resignationtop tech hiring trends this year, and more!

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