Economy Defies Predictions and Stays Afloat as Job Losses Mount

Hiring and consumer spending remain steady, suggesting a recession may be avoided.
Wealthier individuals have been less affected as higher-paying jobs are cut, fueling an uneven economic impact.
Although certain sectors like restaurants and construction continue to grow, layoffs have hit white-collar professions.
Economists argue the economy is strong enough to achieve a "soft landing," though risks like inflation and interest rates persist.
Small businesses remain optimistic due to their perseverance through COVID-19, spurring hopes for continued growth next year.