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Minneapolis CNN —More prime working age women are employed in the United States now than ever before. The labor force participation rate for women between 25 and 54 years old set a record high in April and then again in May, rebounding from the pandemic “she-cession” and returning to its pre-pandemic form of making progressively historic labor market gains. Estimates that nearly eight out of 10 women workers could be affected “are just staggering,” said Julia Pollak, chief economist with online job marketplace ZipRecruiter. “Some of these things are becoming more prevalent, and that’s supportive of more women in the labor market,” she said. On the other hand, AI could prove harmful and threatening for any role that is highly “automatable,” Peterson said.
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Minneapolis CNN —US companies wary about their economic prospects are battening down the hatches. Recent job market data shows more and more businesses have taken to “labor hoarding” and maintaining headcounts even as demand softens. Employees work at CannaCraft's March and Ash retail cannabis store in San Diego's Mission Valley neighborhood. Grey Duck’s sales picture will become clearer in the next three months, Bossen said. “We’re going to do whatever it takes to keep that staff employed and productive, even if things slow down,” he said.
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In February, the majority of economists said a downturn could start in the first half of the year; now, that’s shifted to the third quarter or later. There was, however, greater consensus on inflation, the Federal Reserve’s rate-hiking counterattack, banking turmoil and debt ceiling uncertainty. “A majority of panelists believes breaching the debt ceiling will not bring on a global financial crisis unless an impasse persists for several weeks. Most respondents believe de-dollarization is not a threat over the foreseeable future.”More than half (55%) of surveyed economists believe the debt ceiling will be raised, 42% believe the debt ceiling will be suspended, while 3% believe the United States will default on its debts. The economists surveyed expect interest rates to remain elevated through the rest of the year, and nearly half expect that the Fed will start cutting rates in the first quarter of next year.
Here's why a recession is likely to happen this year
  + stars: | 2023-04-20 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHere's why a recession is likely to happen this yearJoe LaVorgna, SMBC Nikko Securities chief economist, and Dana Peterson, chief economist at The Conference Board, join 'Squawk Box' to discuss the Fed's inflation fight, interest rate hikes, and more.
Opinion: Texas judge’s stunning ruling caps extraordinary week
  + stars: | 2023-04-09 | by ( ) edition.cnn.com   time to read: +17 min
We’re looking back at the strongest, smartest opinion takes of the week from CNN and other outlets. Tennessee legislators targeted three members of the state House for joining a gun control protest in the chamber, expelling two young Black men while failing to oust a 60-year-old White woman. (He gave the Biden administration a week to appeal the ruling before it goes into effect. Thus, the week that began with Trump facing a judge in Manhattan ended with a Trump-appointed judge overturning more than two decades of medical practice. “They go far too fast to be safe on the sidewalk” and aren’t right for bike lanes or roads either.
Here's why the Fed should pause rate hikes
  + stars: | 2023-03-14 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHere's why the Fed should pause rate hikesSMBC Nikko Securities America's Joe Lavorgna, Dana Peterson, chief economist at The Conference Board, and Jason Trennert, Strategas Research Partners chairman and CEO, join 'Squawk Box' to discuss the February CPI data and upcoming Fed announcement.
"We've been talking about impending recession for several quarters now," said Malone, whose Virginia Beach-based company has a national footprint. So has unexpectedly strong consumer spending and, for the world outlook, the reopening of China's economy from strict COVID lockdowns. That poured cold water on the idea that the Fed would "pivot" on a dime to lower rates. "Government bond yields are up" since the last Fed policy meeting, Durham wrote. "It kind of seems the U.S. economy might be more resilient than markets thought six or eight weeks ago."
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDespite sticky inflation, strong labor market is making equities rally, says The Conference Board's PetersonDana Peterson, The Conference Board chief economist, joins 'The Exchange' to discuss the CPI report and the Fed. With CNBC's Steve Liesman.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTwo economy watchers discuss whether the recent tech layoffs are a signal to other sectorsFast Company CEO Stephanie Mehta and The Conference Board Chief Economist Dana Peterson discuss whether recent tech layoffs are a signal to the broader economy.
Experts react to December's inflation report
  + stars: | 2023-01-12 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailExperts react to December's inflation reportEdward Jones' Mona Mahajan, Conference Board's Dana Peterson, University of Michigan's Michael Strain, and Betsey Stevenson, former chief economist at the Labor Department, join 'Squawk Box' to share their opinions on December's CPI print.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailPeterson: If consumers continue to feel good about their jobs, they'll go out and spend, helping to limit the severity of a recessionDana Peterson, chief economist at The Conference Board, expects a short & shallow recession for the U.S. economy next year, marked by negative growth in consumer spending, business capex pulling back and continued weakness in housing.
Wage gains are strong and consumption, the mainstay of U.S. economic growth, continues to increase even after adjusting for inflation. Many factors influence when and if the economy falls into recession; but invariably it will involve rising unemployment and falling consumption. They have telegraphed plans to keep raising interest rates for now as they try to cool the economy and keep prices in check. To date, Fed officials do not feel they have overstepped. "The greatest upside risk is also linked to monetary policy actions," if the Fed navigates the economy to its aimed-for "soft landing" that avoids recession.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email98% of CEOs are expecting a recession, says Conference Board chief economistDana Peterson, chief economist at the Conference Board, and CNBC's Steve Liesman join CNBC's 'Squawk Box' to discuss why corporate executives expect the U.S. to enter a recession.
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