The story behind the government’s July jobs report

President Joe Biden celebrated the better-than-expected July jobs report on Aug. 5, calling it “the result of my economic plan to build the economy bottom-up and middle.” Although the White House initially expected a lower number, the Biden administration and other Democrats in Washington celebrated the numbers. The headline figure of 528,000 new jobs last … Read more

These 9 things prove that the US economy is not currently in recession

Last week’s negative GDP reading added to recession concerns, but other indicators are still strong. Labor market data shows that companies are still hiring quickly and retaining their employees. Household finances are generally in good shape and Americans continue to spend heavily. Loading Something is loading. Last week’s GDP report painted a bleak picture of … Read more

These 9 things prove that the US economy is not currently in recession

Last week’s negative GDP reading added to recession concerns, but other indicators are still strong. Labor market data shows that companies are still hiring quickly and retaining their employees. Household finances are generally in good shape and Americans continue to spend heavily. Loading Something is loading. Last week’s GDP report painted a bleak picture of … Read more

US job market defies recession fears as job growth surges in July

Non-farm payrolls increase by 528,000 in July Unemployment rate falls to 3.5% from 3.6% in June The average hourly wage increases by 0.5%; 5.2% more than in the previous year Participation rate falls to 62.1% from 62.2% in June WASHINGTON, Aug 5 (Reuters) – US job growth unexpectedly accelerated in July, lifting employment levels above … Read more

Recession advocates shocked and appalled by surge in employment

They are praying for a recession to “force” the Fed to pivot. But it’s tough to have an official recession with growing employment and rising wages. By Wolf Richter for WOLF STREET. It wasn’t the hottest job growth ever, but it was big, beating average pre-pandemic job growth. Employers added 528,000 workers to their payrolls … Read more

Why Traders Started Dumping Crude Oil | OilPrice.com

US West Texas Intermediate crude oil futures are trading lower on Friday, shortly after the release of a strong US Non-Farm Payrolls report that suggested the US is not in a recession and that the Fed is likely to continue its aggressive rate-hiking path . Prices have come under pressure this week as traders worried … Read more

Why Traders Started Dumping Crude Oil | OilPrice.com

US West Texas Intermediate crude oil futures are trading lower on Friday, shortly after the release of a strong US Non-Farm Payrolls report that suggested the US is not in a recession and that the Fed is likely to continue its aggressive rate-hiking path . Prices have come under pressure this week as traders worried … Read more

The Bank of England launches the biggest rate hike in 27 years and forecasts a protracted recession

LONDON — The Bank of England hiked interest rates by 50 basis points on Thursday, the largest single hike since 1995, forecasting Britain’s longest recession since the global financial crisis. The sixth straight hike brings the cost of borrowing to 1.75% and marks the first half-point increase since the bank gained independence from the UK … Read more

The buyback bogeyman is back. How concerned should we be? | CNN business

new York CNN business — Americans may be wondering why they are being forced to spend more than $4 a gallon at the pump while energy companies are making record profits. Worse still, Exxon and Chevron announced last week that they would spend billions of dollars of their earnings to buy back their own stock, … Read more

Strategists suggest mid-election recession could pose threat to Democrats: ‘People are suffering’

Economists debate whether the US is in a recession Kaltbaum Capital Management’s Gary Kaltbaum, former Obama Commerce Council Chairman Austan Goolsbee and Frances Newton Stacy, director of strategy at Optimal Capital, discuss the state of the US economy after a second quarter of negative GDP. NEWYou can now listen to Fox News articles! The upcoming … Read more