the other mike
Diamond Member
You might want to think twice about attending-- or sending your kids to --college after you read this.
The economic pain in the next downturn will be completely different from that of the coronavirus recession. White-collar office workers should be worried.
A growing number of economists expect at least a mild recession to materialize in 2023, and signs point to it resembling the downturn of the early 1990s. That slump saw white-collar — or high-income office workers — face a heightened risk of job loss while those in blue-collar sectors like mining and manufacturing generally fared much better than in previous recessions.
Unlike recent recessions, office jobs are most at risk of layoffs in the coming economic downturn
Remote-friendly firms fared the best as the US fell into lockdown. Now it's the "pajama-pants occupations" that face the greatest risk of layoffs.
www.businessinsider.com
A growing number of economists expect at least a mild recession to materialize in 2023, and signs point to it resembling the downturn of the early 1990s. That slump saw white-collar — or high-income office workers — face a heightened risk of job loss while those in blue-collar sectors like mining and manufacturing generally fared much better than in previous recessions.