As we settle into the new year, forecasters at Oxford Economics are optimistic about America’s prospects in 2019. Despite a global slowdown in GDP growth, the US will post the strongest gains of any G7 country. Unemployment is at a 50-year low, and real wages are on the rise. Yet with a rising federal funds rate, a dissipating fiscal stimulus and the risk of a renewed government shutdown—not to mention issues abroad, such as a no-deal Brexit and a trade war with China—companies will need to navigate some headwinds.
Our Thought Leadership team has identified a number of strategic issues companies will need to address in this environment. For one, companies are increasingly moving away from the traditional full-time workforce in favor of contingent employment, in which non-payroll workers perform ever-more important jobs. And as technology platforms ramp up, we expect to see new players enter the financial services industry—consumers may soon be mortgaging their homes through Amazon or Google. We also expect to see greater demand for consumer privacy and data security.
All of these reports, along with many others related to the US economy and business strategy, are available here.