New York CNN —Many CEOs, investors and economists had penciled in 2023 as the year when a recession would hit the American economy.
But the case for a 2023 US recession is crumbling for a simple reason: America’s jobs market is way too strong.
Zandi is growing more confident that 2023 won’t be the year when a downturn will begin.
“We’re running out of time for a 2023 recession,” Justin Wolfers, an economics professor at the University of Michigan, told CNN.
Friday’s jobs report did offer some conflicting signals, especially in the household survey, which economists put less weight on because it tends to be noisier.
Persons:
Mark Zandi, won’t, ” Zandi, “, Justin Wolfers, “ We’ve, payrolls, Wolfers, They’ve, ” Wolfers, ” Macy’s, Zandi, Joe Brusuelas, Morgan Stanley
Organizations:
New, New York CNN, Federal Reserve, Moody’s, CNN, University of Michigan, Bureau of Labor Statistics, Bank of America, Challenger, RSM
Locations:
New York, ”