The U.S. economy added a robust 372,000 jobs in June, as unemployment remained at 3.6%, signaling resilience amid concerns of a recession. The largest gains were in professional and business servic…
The U.S. economy added a robust 372,000 jobs in June, asThe largest gains were in professional and business services, leisure and hospitality and health care. Jobs in information industries increased by 25,000, including 9,000 in publishing.
Mark Zandi, chief economist for Moody’s Analytics, wrote on Twitter that the latest job figures “are incongruous with fears that recession is dead ahead. Job growth is slowing, but that’s a plus, not a minus, ensuring the economy doesn’t go past full-employment, exacerbate inflation, and force the Fed to hike rates even more than it currently plans to.”
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