Business survey shows recession risks elevated

"The results ... indicate widespread concern about entering a recession this year," said NABE President Julia Coronado, founder and president of MacroPolicy Perspectives LLC."For the first time since 2020, more respondents expect falling rather than increased employment at their firms in the next three months."

Respondents reported higher interest rates and costs as the biggest downside risks to their outlooks. Sixty-three percent of respondents reported rising wages over the past three months. That was unchanged from the October 2022 survey. They further reported that sales growth in the fourth quarter of 2022 was relatively unchanged from the previous quarter.

"The survey results reveal an unevenness across indicators," said NABE Business Conditions Survey Chair Carlos Herrera, chief economist for Coca-Cola North America."Wages rose at a majority of respondents' firms in the last three months of 2022 and more firms added workers than reduced headcounts. But far more firms than in the past three years reported falling profit margins.

The survey comes on the heels of mass layoffs in several big-name tech businesses. Last week, Google’s parent company Alphabet laid off 12,000 employees. Microsoft laid off 10,000 employees. On Monday, streaming platform Spotify announced it was laying off 6% of its workforce. That's about 600 employees.

Feds get the blame for this one

United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Fifth Third 2023 expansion begins with St. Johns Town Center opening - Jacksonville Business JournalIt's the first of several new branches slated for the next 12 to 18 months.
Source: JaxBizJournal - 🏆 599. / 51 Read more »

Retirement small business tax credits, retirement changes coming in 2023 - Silicon Valley Business JournalThe SECURE 2.0 Act included in the recently-passed government funding legislation included a raft of small changes to worker retirements.
Source: svbizjournal - 🏆 334. / 59 Read more »

More layoffs are on the way, survey of business economists finds | CNN BusinessFor the first time since the early days of the pandemic, most business economists expect their companies to cut payrolls in the coming months, according to a new survey released Monday. Learn to code 🤣🤣🤣 CNN IS RACIST
Source: CNN - 🏆 4. / 95 Read more »

Radix Law attorney helps oversee alternative business structure (ABS) licenses - Phoenix Business JournalArizona was the first state nationwide to issue ABS licenses after the Supreme Court unanimously voted to remove a rule from its ethics code in late 2020 that had barred fee-splitting with nonlawyers.
Source: phxbizjournal - 🏆 254. / 63 Read more »

Retirement small business tax credits, retirement changes coming in 2023 - Jacksonville Business JournalThe SECURE 2.0 Act included in the recently-passed government funding legislation included a raft of small changes to worker retirements.
Source: JaxBizJournal - 🏆 599. / 51 Read more »