A debate is raging among businesspeople, economists, and everyday families about whether the United States is in a recession. HR leaders have a great interest in this subject because of the budget planning and salary expectations of employees.
The fact is that the gross domestic product (GDP) has contracted for two consecutive quarters. This is sometimes a sign of recession. However, at the same time, the most recent jobs report showed that employers added a whopping 528,000 jobs in July, which was double the expectation. The low 3.5% unemployment also surprised people. In fact, there are still more job openings than people looking for them. It’s a tight talent market.