July's gains were widespread, with bars and restaurants adding 74,000 jobs, factories adding 30,000 jobs, and retailers adding 22,000 jobs.
Still, there's no sign of widespread layoffs or a sharp jump in unemployment, although some companies like trading app Robinhood have recently announced job cuts. "If you think about what a recession really is, it's a broad-based decline across many industries that's sustained for more than a couple of months," Federal Reserve Chairman Jerome Powell said last week."This doesn't seem like that."Construction workers work on a construction site in Brooklyn, N.Y., on July 22.Powell and his colleagues at the central bank are deliberately trying to slow the economy by raising interest rates in an effort to curb inflation.
The central bank would actually welcome some cooling in the job market, since red-hot wage growth has the potential to fuel inflation.a whopping 5.7% for the twelve months ending in June, while employers' cost for benefits rose 5.3%.
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Job market defies expectations with blockbuster growth in JulyWe’ve all heard plenty of talk about a possible recession, but at least for now, there’s no evidence of it in the surprisingly resilient U.S. job market. MaddowBlog Those jobs aren’t new jobs. They’re the jobs nobody would take the last couple years. Suddenly people are applying for them. Why? Cost of living get too high? Government aid run out? MaddowBlog Part time jobs MaddowBlog Working multiple jobs to pay for biden era oil and groceries doesn't disprove this recession.
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Employers Add 528,000 to Payroll in July in Sign of Job Market StrengthJUST IN: Defying anxiety about a possible recession and raging inflation, America’s employers added a stunning 528,000 jobs last month, restoring all the jobs lost in the coronavirus recession. Unemployment fell to 3.5%, lowest since the pandemic started. Lmao at the spin Well, I guess things are really OK in America and the perception of hundreds of millions of people is wrong again! this kkk organization in the San Francisco police, is trying to murder me for being a professional oral sex educator and they are not, it's only the corrupt police and the jobs, they are spying on me all day, and i keep cameras on me all day, no matter where i go, you know me
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