Strong hiring in July may diminish fears of a recession — for now

Strong hiring in July may diminish fears of a recession — for now

Aug 07, 2022 by New York Daily News

Key Facts

  • Despite raging inflation and anxiety about a possible recession, employers created 528,000 jobs last month, more than double market expectations.
  • While the monthly jobs report is always highly anticipated, the July report was even more closely watched by investors, policymakers and the public.
  • Economists and policymakers had expected hiring to slow in July due to recession worries, rising interest rates and high inflation.
  • Not only did job creation blow past those expectations, but the pace of hiring was back to levels not seen since the beginning of the year.

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