The U.S. economy grew slowly over the summer, adding to fears of a looming recession — but also keeping alive the hope that one might be avoided.Gross domestic product, adjusted for inflation, returned to growth in the third quarter after two consecutive quarterly contractions, according to government data released on Thursday. But consumer spending slowed as inflation ate away at households’ buying power, and the sharp rise in interest rates led to the steepest contraction in the housing sector since the first months of the pandemic...
...The third-quarter data — G.D.P. rose 0.6 percent, the Commerce Department said, a 2.6 percent annual rate of growth — suggested that the path to such a “soft landing” remained open but narrow.
I broadly think this is good news, but does not much to change my opinion that the 2022-23 job market for entry-level chemists will be somewhat worse (how much worse, we do not know) than the 21-22 job market. I also think this is a broad indication that the 23-24 market will be somewhat worse than 2022, but again, the magnitude of that drop will not be known for quite some time.
Best wishes to job seekers, and to all of us.