(Contact Center Pipeline) - Forecasting economic futures is challenging, but business success depends on it.
The U.S. economy ended 2022 on a sustained strong note. Payrolls continued to grow beyond expectations. Unemployment stayed low. Wages were still growing in December, despite the Federal Reserve’s attempts to curb inflation. The labor market remained tight.
But 2023 could be a turning point. Rising interest rates are expected to increase unemployment. Some economists are predicting the slowing of sectors that caught fire in 2020—transportation, manufacturing and retail—will return to pre-pandemic levels.
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