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The Big Take

There’s a Job-Market Riddle at the Heart of the Next Recession

Tech giants and banks are already cutting workers, but many employers seem desperate to keep hiring.

Bloomberg business news
Why 2023 Is a Year for the Pessimists

The global economy is stuttering, and some of the world’s biggest names are already laying off thousands of employees. But there’s a glimmer of good news: This time around, workers have a better-than-usual shot at holding onto their jobs if recession arrives.

Almost three years after Covid-19 hit, companies around the world still complain that they can’t get the talent they need. They worry about labor shortages that will likely last beyond not just the pandemic, but the next downturn too. Deeper forces, such as changes in population and immigration, are shrinking the pool of workers they can hire from.