Ernst & Young Global Chairman and CEO Carmine Di Sibio joined 'Mornings with Maria' to discuss the labor market, and provide his take on employees working from home and its impact on commercial real estate.
A growing number of business economists expect companies to reduce their headcounts for the first time since the pandemic, a sign thepublished on Monday by the National Association for Business Economics, which shows that about 20% of the group's members expect employment at their company to fall in the coming months.
"For the first time since 2020, more respondents expect falling rather than increased employment at their firms in the next three months," NABE President Julia Coronado, the founder and president of MacroPolicy Perspectives, said in a statement. "Fewer respondents than in recent years expect their firms’ capital spending to increase in the same period."
Job seekers visit booths during the Spring Job Fair at the Las Vegas Convention Center Friday, April 15, 2022.Just 12% of those surveyed expect employment to rise over the next three months – fewer than half of the share who reported hiring more workers over the past three months. Roughly two-thirds of the respondents reported wages increasing in the past three months, which is unchanged from November.
Wage growth has been a big contributor to stubbornly high inflation, which remains about three times higher than the pre-pandemic average.
Somebody wants a recession and they want it REAL bad, it's as if somebody is talking themselves into a recession, making a self-fulfilling prophecy come true, so they can say, see, I told you we were heading into or already are in a recession.