Today concludes our three-part series exploring several contingent and workforce strategies to achieve a recession-proof enterprise.
We’re now two months into the second half of 2023 and economically speaking, things are looking positive. The Bureau of Economic Analysis reports that GDP grew 2.4% in the second quarter of 2023. The labor market remains tight with unemployment at 3.6%, a rate not witnessed in decades. However, according to the U.S. Bureau of Labor Statistics, the tight labor market provides the Federal Reserve with the flexibility to continue raising interest rates to fight inflation. Currently, inflation rests at 3%, a percentage point higher than the Federal Reserve’s longer-run goal of 2%.
Does the state of the current U.S. economy equate to a “soft landing” and the evasion of a recession? Maybe, maybe not.
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