Labor market may skirt U.S. recession: NABE

A majority of business economists believe that the U.S. economy will continue to slow and enter a recession next year, but the impact on the labor market may be limited relative to recent downturns.

That's according to the results of a new survey published by the National Association for Business Economics (NABE) on Monday, which showed 57% of respondents believe the probability of recession in 2023 is greater than 50%. A 52% majority of economists who responded believe a recession will begin in the first quarter of 2023.