In light of the ever-changing national situation and outlook, the CRER has released a special forecast outside of its regular schedule of quarterly forecasts. The CRER’s updated forecast provides three scenarios based on the Blue Chip survey, and one based on the occurrence of a moderate recession along the lines of the 1990 and 2001 recessions. Under the consensus forecast for the US economy, local job growth would be slow throughout 2025 and pick up in 2026. The two recession scenarios (mild and moderate) indicate a loss of 900 and 5,000 jobs in 2025, respectively, along with slow growth in 2026. Under the most optimistic scenario, the local economy would gain 2,700 jobs in 2025, which would be the slowest annual growth since 2014.