The source of these layoffs makes a very big difference when considering if a recession is likely and how deep it becomes.
The overall economy is doing quite well right now and it’s not obvious if things will improve or tank over the next few months. Despite officially low unemployment rate the actually important employment rate is only ~60% demonstrating a reasonable but not excessive amount of slack in the labor market.
The overall economy is doing quite well right now and it’s not obvious if things will improve or tank over the next few months. Despite officially low unemployment rate the actually important employment rate is only ~60% demonstrating a reasonable but not excessive amount of slack in the labor market.