With recessions expected in many parts of the world during 2023, it is highly likely that unemployment will rise in a number of economies this year, writes IanKingSky
'Challenging trading conditions' in the UK
It said that, reflecting more challenging trading conditions, it cut the number of fee earners it employs by 26 during the period. Graham Brown, analyst at broker Stifel, told clients this morning:"It appears that the softening macro environment is now catching up with the staffers."Unemployment tends to be a lagging indicator, in the jargon, of what is happening in an economy. Job losses usually only take place after an economy has begun to slow.
So central banks might also be forgiven for worrying that their recent interest rate hikes are starting to have unwanted side effects.
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