Tech to See Boost as Companies Seek Workers: Wells Fargo

The transcript discusses the paradox of low jobless claims amidst economic slowdown, highlighting layoffs in the tech sector and other industries that overhired during the pandemic. It predicts a rise in unemployment to 5% by year-end, with growth expected in sectors like energy, healthcare, and information technology. The discussion also covers the demographic shift towards low labor force participation and the increasing reliance on technology.

What is the expected unemployment rate by the end of the year?

Which industries does the speaker suggest will see growth despite the economic slowdown?