Author: Paul Davidson, USA TODAY

Will there be a recession in 2023? Most economists predict yes, but there is a split on how severe it will be.

As the economy slows, some firms are scaling back hiring or cutting workers while others add staff. How are they deciding?

As the U.S. job market cools, employers are gaining bargaining power and starting to require remote workers to return to the office.

While gas eased, a key measure of prices that excludes food and energy costs posted the biggest gain since 1982, the report showed.

If Fed raised rates sooner, inflation would be percentage point lower but unemployment would be two points higher, San Francisco Fed paper estimates.

Economists feared the slower yet sturdy job gains would signal that inflation wasn’t under control and spur the Fed to continue aggressive rate hikes.

The Fed lifted its key interest rate 0.75 percentage point for a third straight meeting to curb inflation. But the move raises the risk of recession.

The odds of a recession next year top 50% economists say. Weaker consumer spending and lower corporate profits are among the likely causes.

Some economists say high inflation is still on track to ease in coming months despite disappointing CPI report. Others say it will hang around longer.

Social Security payments could rise by 8.7% in 2023 for about 70 million retirees, disabled people and others. That would be the most since 1982.