Layoffs at 95 Tech Companies in June Quicken Potential Recession Slide
Zumper, the largest privately owned rental platform in North America, announced that it would lay off 15% of its workforce
Two weeks earlier, the leading electric vehicle maker, Tesla, announced that it would lay off 10% of its salaried workforce.
After demand in May came in 17% below expectations, the popular real estate brokerage, Redfin, recently announced plans to lay off about 470 employees, 6% of workforce.
According to separate surveys conducted by the Conference Board and Country Financial, more than 60% of executives and 82% of consumers expect a recession by 2023.
During last week's Federal Open Market Committee meeting, the median projection for real GDP growth in 2022 was downgraded from 2.8% to 1.7%
While prices have clearly risen across the board, Dr. Aaron Sojourner, an economist and senior researcher who worked in both the Obama and Trump administration argues that the average American household has more wealth and is in a better position to absorb these costs than they were just two years ago.