Despite the pressure with rising interest rates and increasing concerns about an impending recession. United States economy grew at a 2.9% annualised from Oct to Dec, finishing 2022 with momentum.
It has come as a great shock how resilient the US labour market has been. In official data going back in 1940, the number of jobs added by businesses last year was 4.5 million.
According to Moody’s Analytics, the ensuing instability might lead to the loss of close to 6 million US jobs in a severe recession like the one brought on by the 2007–2009 financial meltdown.