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news & trends
Many developing economies are struggling to cope with weak growth , persistently high inflation and record debt levels . Yet new hazards — such as the possibility of more widespread spillovers from renewed financial stress in advanced economies — could make matters even worse for them .”
– Ayhan Kose , deputy chief economist , World Bank
What ’ sAhead ?
A survey of primarily CEOS , CFOs and controllers regarding their economic outlook found :
78 % said inflation continues to be a concern . 47 % believe the U . S . will enter a recession by the end of the year . 46 % said they have the right number of employees . 38 % of all businesses expect to expand a little in the next 12 months . 9 % have embarked on layoffs or are planning to trim their workforce soon .
– AICPA & CIMA the numbers
70 %
The number of Gen Z workers who would switch jobs for better tech .
– Workday
3 in 5
The number of Americans who say inflation is affecting their travel plans .
– Wallet Hub
61 %
The number of accountants who believe the economy will be “ much ” or “ somewhat worse ” for smallbusiness clients .
– CPA Trendlines
27 %
The number of employees who said they experienced unmanageable financial stress in 2022 , up from 20 % in 2021 .
– Financial Finesse
$ 1T
The amount Americans owe in credit card debt .
– Federal Reserve
70 %
The number of employees who have discussed personal salary with their co-workers .
– Skynova www . calcpa . org AUGUST 2023 CALIFORNIA CPA 5