(Photo | Courtesy of Express Employment Professionals)
76 Percent Don’t Expect Recession Over Coming Year
At year end, businesses have confidence in the economy, with most predicting no recession in 2019.
In the December survey of 445 businesses, only one percent of respondents expect a recession in the next three months, while eight percent expect one in three to six months.
Less than one-quarter (24 percent) believe a recession will arrive in the second half of the year.
While media predictions of a recession have increased in recent months, signs of a strong economy abound:
- Unemployment is near record lows at 3.7 percent.
- Real GDP increased 3.4 percent in the third quarter.
- Express Employment Professionals has 16,500 open positions to fill.
- There are more than seven million job openings across the United States.
“While it continues to be a tight labor market in Central Oregon, our local wages have increased collectively along with the efforts of our community to continue bringing in new and diversified businesses which will help keep us from a radical recession here,” said Connie Druliner, owner and CEO of the Bend and Redmond Express Employment Professional’s offices.
“I know some people were uneasy at the end of 2018,” said Bill Stoller, CEO of Express. “But when you look at the big picture, the American economy will begin 2019 on a strong footing. Even with such low unemployment, we have an abundance of jobs to fill, and wages have been on the rise. Clearly there are concerns about what may happen toward the end of 2019, and there are always external forces beyond our control. For now, though, I’m predicting a happy economic new year.”
The survey of 445 businesses, which are current and former clients of Express Employment Professionals, was conducted in December 2018 to gauge respondents’ expectations for 2019.
expresspros.com/BendOR • 541-389-1505
