Our U.S. GDP growth forecast is 1.6% for 2022 and 0.2% for 2023, as the economy falls into a shallow recession in the first half of the year. The jobs market is still tight as workers quickly find jobs. The labor force participation rate for prime age female workers (25 to 54 years old) climbed in August to its highest rate since before the pandemic, as COVID-19 vaccines to young children and reopening of schools helped parents return to the workforce, to improve business needs.