Recession is sure!! Monthly salaried escapes..!
The global economy is fast approaching recession, while central banks around the world continue to raise interest rates to curb hyperinflation, but the reality is that economic collapse has not been prevented. Meanwhile, economists have once again lowered their growth rate forecasts for the world's major economies in a key survey of economic growth conducted by Reuters. Above all, economists say the world will be affected like never before, but there is only one good thing. It is expected to give confidence to the common people.
The global economy is fast approaching recession, while central banks around the world continue to raise interest rates to curb hyperinflation, but the reality is that economic collapse has not been prevented. Meanwhile, economists have once again lowered their growth rate forecasts for the world's major economies in a key survey of economic growth conducted by Reuters. Above all, economists say the world will be affected like never before, but there is only one good thing. It is expected to give confidence to the common people.
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Recession
The survey found that most of the world's major economies, which are already in recession or headed for recession, have lower unemployment compared to pre-recession periods.
40 years
In fact, recent polls expect the gap between growth rates and unemployment to be much smaller in at least four decades, ie 40 years.
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JobsGenerally during economic recession period jobs are more likely to be lost, for example 2000 dot com bubble, 2008 international financial crisis, 2020 Corona period there was excessive economic downturn, excessive unemployment. But the current unemployment rate is expected to remain low.The struggle will continue in 2023
Central banks around the world have been raising interest rates since early 2022 to curb inflation. But the continued deterioration in the business environment has made inflation difficult to control till date. It is predicted that this struggle will start in 2023.
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Only 6 central banksAbout 22 central banks of the world participated in the poll conducted by Reuters. Of these, only 6 central banks have said they will achieve their stable inflation target by the end of next year. It is noteworthy that 18 central banks said they would meet the target in a poll conducted in July.Unemployment measure
About 70 percent of economists polled by Reuters, or 179 out of 257, said there was little chance of a sharp increase in the unemployment rate next year.
Good news
Thus there is a widespread view that a recession expected this year or next will not wreak havoc on the economy, but on the job market.
Measuring economic growth
Global economic growth will slow to 2.3 percent in 2023 from an expected 2.9 percent, according to a Reuters poll of economists covering 47 major economies and forecasts from september 26 to october 25. It is then projected to be 3.0 percent in 2024.
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