As 2023 begins, experts are predicting a recession. According to Citi Global Wealth Investment’s 2023 Wealth Outlook Roadmap, an estimated 2 million jobs could be lost nationwide, which could cause unemployment to rise above 5% this year if projections reach these estimates.

The U.S. Bureau of Labor Statistics (BLS) recently released its November Job Openings and Labor Turnover Summary. This month’s report revealed the number of job openings, 10.5 million, changed little from the previous month as the Federal Reserve (Fed) continued its efforts to combat inflation. However, November’s job openings were higher than economists expected.