another mega-sized, 75 basis point rate hike — triple the usual size — at their meeting in July and have since signaled they are "nowhere near" ending this tightening cycle, despite signs of a slowdown in the economy.
While some parts of the economy appear to be softening — namely the housing sector — the labor market has proven to be a bright spot for months. Job growth last month blew past expectations, with employers adding a stunning 528,000 new positions, pushing the unemployment rate to a historic low of 3.5%.
However, there are signs that the labor market is starting to weaken. A plethora of companies, including Alphabet's Google, Walmart, Apple, Meta and Microsoft, have announced hiring freezes or layoffs in recent weeks. Federal Reserve Chairman Jerome Powell speaks to the Senate Banking, Housing and Urban Affairs Committee, as he presents the Monetary Policy Report to the committee on Capitol Hill in Washington on June 22, 2022.last month described the labor market as "very hot" — and that was before the blowout July jobs report — but suggested that there will likely be some "softening in labor market conditions" as a result of higher interest rates.
Salty_Dog7 Gotta destroy the country before you can 'fundamentally change the country' and 'build back better.' This is all part of their plan.
You too can be a future owner
Create new technology jobs Future Growth Co., Ltd.?
If you are laid off, you will enter a new technology job. Or take new technology vocational training
kylenabecker
Stage what now?
kylenabecker That's the Biden/Globalist plan. Cut jobs, make everyone dependent on their corrupt government for handouts. Starve you, deprive you of earning a living, make you homeless, try to force you to eat bugs, then watch you die so they can depopulate the planet.
kylenabecker This is normal in a recession. Wait until the stock market tanks.
kylenabecker CNN: Economy so good companies no longer need employees.
kylenabecker But senile Biden says all is well!
But the job numbers are going to be faked even higher the next 3 months. Got to push out that lie further
This is a really bad situation and it seems like a crisis can be.
Mostly a result of BidenFlation
but the economy is good no recession
BidenDeliversAGAIN
Dems are traitors. President Trump best president ever
TrySmallBiz So we are in recession, how far will FED go?
So it’ll be back to “the President has nothing to do with the jobs market” after he’s been boasting about job creation (retirees having to take on part-time jobs to make ends meet)
I call BS. Just read article stating small business's still short employees.
better than cutting half the jobs I guess
Recession?
What happened to the billions of stimulus they received?
This is DUMB! But I can figure a college professor told students this was logical dealing with previous economic timelines. Regardless, it is wrong and outdated.
Not sure how all of these businesses are cutting jobs when everyone's short workers. Considering there is less of a working pool of workers. But it makes sense if you are following a college professors curriculum with zero real world experience or 1980's experience.
It's Putin's fault.
Half seems like a lot. Will this be touted as another Biden Accomplishment? Way to go there, Brandon.
Is this covered in the new definition of recession