Burnout, industry shifts and a likely recession: 3 hot takes from Philly business leaders

For better and worse, 2023 will likely look much different for Greater Philadelphia’s businesses, workers, and economy from the year before.

The pandemic caused some people to retire early and caused the workforce to shrink because of illness and death, he said. At the same time, immigration slowed, and millions fewer workers entered the country, he noted.A number of companies in the region are swamped with hiring work they can’t handle in-house, said Marcia Zaruba-O’Connor, president and CEO of the O’Connor Group, an HR and recruiting firm.

That’s a good thing, he said, because eds and meds aren’t recession-proof anymore: Enrollment is trending down at colleges and universities, and health care is becoming less regionally tied because of telemedicine and other tech advances. Another area where employers are hungry for talent is in tech. That’s not just mainstay tech giants and burgeoning start-ups.

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