From red-hot inflation to a strong jobs market, and all the negative gross domestic product in between, economists are divided on the health of the U.S. economy. A top concern for Americans: Are there layoffs on the horizon? Economists break down the data and economic indicator complexities brought upon by the Covid pandemic and the war in Europe. More corporate leaders are anticipating a recession, according to a survey from Stifel. Big companies are already announcing layoffs, including Best Buy, Ford Motor, HBO Max, Peloton, Shopify, Walmart and Wayfair. Meanwhile, a survey from PwC shows 50% of firms expect to reduce their labor forces in the next six to 12 months. This comes at a time when the labor market could hardly appear stronger. In July 2022, there were 11.2 million job openings, revealing a shortage of workers for available positions. "I think it's very important to look at the number of job openings," Julia Pollak, chief economist at ZipRecru
Timothy Sumer is a philanthropist and motivational speaker empowering young entrepreneurs across the nation. He speaks on starting new businesses and the importance of branding in the digital age. Timothy Sumer has a BA in Accounting from NYU and a Masters in Information Technology from MIT. Tim enjoys traveling around the globe, driving exotic sports cars, molecular gastronomy, exploring new cultures, and keeping on top of the latest technology trends. Hope you enjoy Timothy Sumer's page :)