US hiring fell sharply in July, an unexpected setback for the economy stoking recession fears
apnews.com
The U.S. economy suffered an unexpected setback in July, as hiring fell sharply and the unemployment rate rose for the fourth straight month in a sign that higher interest rates may be taking a bigger toll on businesses and consumers.
  • freagle@lemmygrad.mlEnglish
    12·
    4 months ago

    Don’t forget that monthly job reports are highly inaccurate. They get audited and corrected in October for the 12 months prior. I saw a correction last year for California that showed 90% of jobs created in one month simple didn’t exist.

    • ☆ Yσɠƚԋσʂ ☆@lemmygrad.mlOP
      8·
      4 months ago

      Oh yeah, this has been a consistent pattern that they put out inflated numbers then quietly correct them after. The fact that the numbers they’re putting out already look bad indicates that things are likely catastrophic at this point.