The latest reports show companies hiring more people in May than anticipated, despite continuing inflation and high interest rates. While the economy is still growing, there are ongoing concerns.
The monthly economic check-up looks good.The latest reports show companies hiring more people in May than anticipated, despite continuing inflation and high interest rates.While the economy is still growing, there are ongoing concerns. While some factors that move our economy are up, others are not so much.The economy added 272,000 jobs last month, which was better than expected.On the other hand, unemployment went up just a bit to 4%.
"Black says business is still bothered by interest rates, which has increased business costs."That's going to be a huge issue for companies of all sizes," he said. "There's so much innovation, investment in technology such as AI that need to be addressed. And so that's one of the main concerns as it relates to the slowdown of this economy, despite the spike in hires.
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