But there’s a glimmer of good news: This time around, workers have a better-than-usual shot at holding onto their jobs if recession arrives. That would make the coming economic slowdown very different, and in some ways less painful, than the ones the world has gotten used to. In the UK — which is already in recession, according to most economists and the government — more than half a million jobs are forecast to go in the next two years. And it shrunk the workforce, with labor market participation in the US and UK still below pre-pandemic levels. “The churn in the labor market is incredibly high.
