Another take on the July Jobs report:
U.S. labor market defies recession fears as job growth surges in July
- Nonfarm payrolls increase 528,000 in July
- Unemployment rate falls to 3.5% from 3.6% in June
- Average hourly earnings rise 0.5%; up 5.2% year-on-year
- Participation rate falls to 62.1% from 62.2% in June
The author quotes an analyst who makes a good point regarding the effect these results have on another key issue for voters, inflation.
"If the U.S. economy is in a recession, no one seems to have told employers," said Sarah House, a senior economist at Wells Fargo in Charlotte, North Carolina. "We suspect this data will give the Fed the confidence it needs to push ahead aggressively with its fight against inflation."
Like most Republicans today,
@NYCBambu hates this country and wants it to fail so they can replace our democracy with a dictatorship.
What they need is a good thrashing.