BURLINGTON, Vt. (WCAX) – Vermont business leaders will be watching the economy closely in the coming year.
The Vermont Economic Conference on Monday brought business groups, business leaders and government officials to the University of Vermont to network and understand the challenges facing the local and global economy.
The Federal Reserve is set to raise its benchmark interest rate this week for the eighth time since March. But the federation announces a small hike for the second time in a row
And while the Fed’s campaign to beat high inflation is far from over, top Vermont economists say the United States can avoid a recession and widespread job cuts.
“I think it’s going to be different because we’re going through such fundamental changes in terms of labor demand and technology. And I think those two things could make for a recipe for a soft landing,” said Vermont State Labor Economist Matthew Barevich.
Vermont remains in a tight job market with an unemployment rate of 2.6% and currently 20,000 open jobs.
Monday’s conference is sponsored by the Vermont Chamber of Commerce.
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