Most recessions in US history have been accompanied by severe job losses and high unemployment rates, but this time may be different. Should a recession take hold in the US, the ongoing labor shortage may be the key to protecting vulnerable workers in what may prove to be a "job-full" recession. If the US descends into recession this year, then businesses will likely pull back on help-wanted ads. Others may defer merit pay raises, promotions and future discretionary compensation, or may encourage voluntary early retirement or job separations. Employers may also institute job sharing, where two people work one job, to keep their best people amid demand lulls.

Source: CNN August 06, 2022 16:04 UTC