Not everyone expects to see large-scale layoffs wash over America, even as recession fears lurk and labor costs emerge as a top concern for companies in the third-quarter earnings season.
“It’s been a bit tough for companies to get their hands on labor,” said Dec Mullarkey, managing director of investment strategy and asset allocation at SLC Management, by phone. Analysts have grown pessimistic about earnings as the Federal Reserve has sharply raised rates to battle high inflation, but S&P 500 companies still were expected to report earnings growth of 2.4% in the third quarter on a year-over-year basis, according to FactSet. That figure would be the lowest earnings growth in two years.
Read: From Great Resignation to Forced Resignation: Tech companies are shifting to layoffs after a huge ramp up in hiring
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