The report defied expectations of a hiring slowdown as the Federal Reserve carries out a fight against inflation that aims to slash demand by cooling the economy but risks tipping the country into a recession.
The overall robust hiring in recent months defies typical conditions for a recession, Daniel Zhao, a senior economist at the career site Glassdoor, told ABC News prior to the data release. Despite a series of borrowing cost increases meant to slash prices, inflation has not only persisted but worsened. Data released last month showed that prices jumped a staggering 9.1% in June, which amounts to the highest inflation rate in more than four decades.
Source: Financial Digest (financialdigest.net)
Yes people are going back to work now that COVID fear is wearing thin…. But ABC will spout anything to make the Dems look good…. After all they took their money and now they shill…
Adding jobs lost during the pandemic is not much of a gain.
God bless POTUS all the scare tactics by Trumpsters and GOP was a total lie about jobs. Proof is in this great numbers. bidenharris2024
Biden boom 💥 still going strong 💪
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