Businesses aren't acting like a recession is coming this year
, which found that applications for businesses likely to hire employees rose 7% between the first half of 2022 and the first half of 2023. Nearly 871,000 likely employer applications were filed during the first six months of 2023, the second-largest midyear total ever on record, as noted in the Economic Innovation Group analysis.release. Wages and salaries for civilian workers soared by a year-over-year 4.
. According to the June report, an index of 91.0 puts it at the"18th consecutive month below the 49-year average of 98." "Businesses did a great job managing inventories during the second quarter, anticipating the eventual slowdown in consumer spending," Jeffrey Roach, chief economist for LPL Financial, said in a statement after the GDP report.this year is unlikely. On top of the strong growth and labor market figures, inflation has been slowing, which may mean the Fed is near the end of its interest rate hikes for now.
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