new York Actually, it’s good news: America’s job market is strong. 372,000 new jobs were created in June, significantly more than expected, and the unemployment rate remains at a historically low level of 3.6 percent.
And yet economists are looking at the latest data from the USA with mixed feelings these days. After all, the US Federal Reserve (Fed) wants to cool down the world’s largest economy significantly in order to get the high inflation of 8.6 percent under control. And for that, a weaker labor market is badly needed to prevent rising wages from driving prices further up.
The situation in the US economy remains opaque – even if acute concerns about an economic downturn seem to have been dispelled for the time being in view of the robust labor market.
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