Economic Forecast for 2023: Implications for Education & the Workforce

Brian Beaulieu, CEO and Chief Economist at ITR Economics

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ITR Economics, "first in forecasts worldwide," boasts a 94.7% forecast accuracy. Their Chief Economist and CEO Brian Beaulieu joins us for a fast-paced and engaging discussion on the economic outlook for the U.S. and global economy in 2023 and beyond.

But this isn't just your average discussion on economic trends. Our conversation is geared toward helping manufacturers and educators prepare for what's coming in the next 1-3 years, hone their competitive edge, take advantage of funding while it's available, and hedge against challenges that will arise.

3 Big Takeaways from this episode:

Inflation, supply chain issues, reshoring, and labor market - explained: When will inflation ease? Will there be a recession in 2023? Where did all the workers go? When will the supply chain get sorted out? These are big questions we've all been pondering for the last year, and now Brian shares the answers. His insights (backed by a long history of accurate economic predictions) will foster hope and provide direction to business leaders and educators alike.
Manufacturers should focus on solving the people problem: The labor shortage is not news, and as more companies move back to the U.S., manufacturers will continue to have issues finding skilled workers. Brian discusses several solutions, like turning to automation, adapting your work culture to reach hard-working Millennials and Gen Z workers, and developing a long-term privately-run labor program for individuals immigrating to the U.S.
Education must take advantage of 3 years of good funding: Brian shares confidence in the funding available to education over the next three years. We've already seen an increase in federal support of technical education (and education in general) since the onset of the pandemic in 2020. But how long will this last, and when should educators expect to prepare for budget cuts? Listen to find out.

Resources

To learn more about ITR Economics, visit their website.

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