, in which inflation returns to normal levels while the U.S. economy averts a recession, experts told ABC News.
The fresh jobs data defied any such worries by presenting a rosy picture of the economy in which employers are hiring at a strong pace, a large share of people are staying on the job and wages are rising at a fast rate, analysts said. The spike in interest rates elicited gloomy forecasts of a recession from many economists, since high interest rates typically weigh on economic activity, causing businesses to slow investment and lay off workers.
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