By Staff Reporters
***
***
The Bureau of Labor Statistics revealed in its most recent jobs report that the U.S. non-farm payrolls added a modest 315,000 jobs in August, 2022. More people are actively seeking jobs, too, meaning that the unemployment jumped to 3.7%, its highest in six months. Economists are celebrating the paradox that is the good news of more people going without work.
“In our view, the August employment report contains enough good news for the Fed that will lead them to slow the pace of rate hikes beginning in September,” wrote Bank of America Research in a note shared on Friday. Meanwhile, Julia Pollak, chief economist for the jobs site ZipRecruiter, sent out a note summing up the observations of many economists like her who closely watch each job report: The unemployment situation is the best news to come out of this data.
***
COMMENTS APPRECIATED
Thank You
***
Filed under: Alerts Sign-Up, Career Development, Glossary Terms, LifeStyle | Tagged: UPDATE: The Unemployment Paradox |
Leave a Reply