Job Growth to Slow in 2023 After Rapid Changes During Pandemic
• Wage growth and raises expected to continue slowing in 2023, returning to pre-pandemic norms • Hiring will slow further in 2023 but some companies still plan to add jobs • Layoffs remain low but could abruptly increase if economy slips into recession • Employers reluctant to cut more jobs after recent labor shortages • Job market expected to stabilize in 2023 after rocky period