The US economy defied expectations by adding 254,000 jobs in August, exceeding forecasts and signaling a robust labor market. Inflation also continued to cool, raising hopes for a 'soft landing' where the Federal Reserve can curb inflation without triggering a recession.
, in which inflation returns to normal levels while the U.S. economy averts a recession, experts told ABC News.
The fresh jobs data defied any such worries by presenting a rosy picture of the economy in which employers are hiring at a strong pace, a large share of people are staying on the job and wages are rising at a fast rate, analysts said. The spike in interest rates elicited gloomy forecasts of a recession from many economists, since high interest rates typically weigh on economic activity, causing businesses to slow investment and lay off workers.
US Economy Jobs Growth Inflation Recession Federal Reserve
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
US economy adds fewer jobs than expected in AugustUS economy adds fewer jobs than expected in August
Read more »
US economy adds 142,000 jobs as unemployment rate falls slightly, Dept. of Labor reportsHiring in the U.S. grew slightly in August compared to last month as the unemployment rate dipped for the first time in a few months.
Read more »
US economy adds far more jobs than anticipated in SeptemberUS economy adds far more jobs than anticipated in September
Read more »
RBA preview: hawkish hold expected amid sticky inflation, strong jobsRBA preview: hawkish hold expected amid sticky inflation, strong jobs
Read more »
Economy on Track to Post Strong Growth in Q3, Defying Slowdown FearsMarket Overview Analysis by James Picerno covering: . Read James Picerno's latest article on Investing.com
Read more »
Millionaire Investors Favor Harris, But See Strong Economy Regardless of Election OutcomeA new UBS survey reveals that millionaire investors are leaning towards Vice President Kamala Harris in the upcoming election. Despite this preference, a majority of these investors remain optimistic about the economy regardless of who wins.
Read more »