Traders will be cautious after 91% of CEOs surveyed by KPMG said they think there will be a recession in the next 12 months, as they look at potentially reducing their workforce.
"Ninety-one percent of CEOs surveyed believe there will be a recession in the next 12 months. Only one-third of those CEOs believe it will be a short and mild recession. Some CEOs are considering workforce reductions, roughly half of the CEOs are thinking about whether they need to reduce workforce," KPMG CEO Paul Knopp told FOX Business.
"The chances of a soft landing are likely to diminish to the extent that policy needs to be more restrictive or restrictive for longer," he said during his press conference following the September meeting. The price declines are the sharpest since January 2009, when the economy was in the midst of the worst recession since the Great Depression, according to Black Knight. Median home prices are down 2% since their June peak. "The only months with materially higher single-month price declines than we’ve seen in July and August were in the winter of 2008, following the Lehman Brothers bankruptcy and subsequent financial crisis," Graboske said.
Economists surveyed by Refinitiv say the U.S. economy likely added 250,000 new nonfarm jobs in September. That’s down from 315,000 the previous month and would mark the weakest job growth since December 2020. For perspective, April 2020’s 14.7% jobless rate surpassed the post-World War II record of 10.8% in November 1982 and was the highest since recordkeeping began in 1948 .
It would also mark the sixth straight month of flat or declining annual wage growth from a 2-year high of 5.6% in March, possibly easing concerns about wage inflation.Beginning at 10 a.m. ET, the latest Job Openings and Labor Turnover Survey will be released.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Survivors, family members remember victims killed in Route 91 mass shooting on 5th year anniversaryThe city of Corona and country music radio station KFROG hosted the vigil, handing out candles and wrist bands to attendants. The event has served a powerful moment for anyone who needs to mourn, remember and reflect.
Read more »
Longest-serving pastor in Paterson, 91, honored with key to the cityThe longest-serving pastor in Paterson, who is 91 years old, said her community is what keeps her going.
Read more »
Las Vegas massacre survivor searching for 'angel' she says saved her lifeClaudia Rico says she's searching for the 'angel' who saved her life the night of the shooting at the Route 91 Music Festival in Las Vegas.
Read more »
Las Vegas shooting: Former officer reflects on 5 years since 58 people shot dead at country festivalA retired Las Vegas police officer reflects on the heroism displayed during the Oct. 1, 2017, shooting into the Route 91 Harvest Festival that left a total of 60 people dead.
Read more »
Family sees video of loved one 5 years after Las Vegas massacreIt's been five years since the shooting that killed 58 people at the Route 91 Music Festival in Las Vegas. Now, the family of one of those killed is seeing last, joyful, moments of one of their loved ones for the first time.
Read more »