U.S. jobs growth continues to show remarkable resilence despite increasing signs of layoffs.
A "Now Hiring" sign at an Advance Auto Parts store in San Leandro, California, US, on Tuesday, Aug. 15, 2023.This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you see? You can subscribein Asia Pacific for the first time, with deal value soaring 183% in 2023, Bain & Company said in a report.
"Today, America once again has the strongest economy in the world. A record 15 million jobs have been created on my watch," he said in the"The unemployment rate has been below 4 percent for the longest stretch in over 50 years," he noted. "We all monitor the labor market very, very carefully, and I don't see those cracks today," Powell said. "We follow all the possible stories that are out there about there being cracks, but the overall picture really is a strong labor market.""Powell did say wages were rising faster than what was consistent with achieving price stability in the past," Diane Swonk, chief economist at KPMG,"It is still unclear whether those gains are a problem or not.
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