7 Tips to Recession-Proof Your Business, From Leaders Who Have Been There
Nearly all of the jobs lost during the pandemic have been recovered. In June, the US added 372,000 jobs, beating expectations, and the unemployment rate remained cemented at 3.6 percent — the lowest in more than 50 years — according to data released by the Bureau of Labor Statistics today.
Despite the buoyant labor market, the overall economic mood feels increasing pessimistic. No business owner wants to hear the “r” word. But depending on whom you ask, the country could be talking itself into a recession, or we could already be in one.
Wells Fargo argues that this latest jobs report should squash the conversation about whether the US economy is in a recession — but not everyone shares that confidence. A group of forecasters surveyed by the Wall Street Journal put the odds of a downturn over the next year at 44 percent, up from 28 percent in April.