Gad Levanon is the chief economist at the Burning Glass Institute. He’s the former head of The Conference Board’s Labor Market Institute. The opinions expressed in this commentary are his own.
So far this year, the US economy has managed to skirt a recession, despite what many experts predicted. But even while the labor market remains strong, there isn’t much to celebrate in the foreseeable future. We could still very well find ourselves in a recession over the next 12 months, with limited economic growth and lower prospects for improvement in Americans’ standard of living that could linger for the rest of the decade.