Is a white-collar recession looming?

2 America’s Bureau of Labour Statistics () reported that the number of workers on non-farm payrolls rose by 263,000 in November, fewer than the 284,000 in October but hardly a sign of wide retrenchment. Labour markets remain , with 1.7 job openings for every unemployed American in October, the latest figure available. Many businesses are still contending with in factories and restaurants.Meanwhile, in a seemingly parallel universe, American tech firms have 88,000 workers this year, according to Crunchbase, a data provider. Banks have also been showing staff the door. Wells Fargo has reportedly cut hundreds from its mortgage division. Barclays fired around 200 workers last month. Wall Street stalwarts, including Goldman Sachs and Citigroup, have also made cuts. Retail titans such as Amazon and Walmart have trimmed corporate headcounts, but not jobs in warehouses and supermarkets. On December 5th the reported that PepsiCo is laying off “hundreds” of workers at its headquarters.