July jobs report: As recession fears grow, strong US hiring is likely slowing
FILE - A "now hiring" sign is displayed in a window in Manhattan on July 28, 2022, in New York City. (Photo by Spencer Platt/Getty Images The American job market has defied raging inflation, rising interest rates, growing recession fears.
Month after month, U.S. employers just kept adding hundreds of thousands of workers, often beating forecasters’ expectations.But now economists worry that signs of weakness are starting to turn up in hiring, threatening one of the United States’ last remaining redoubts of economic strength.
Job openings are down, and the number of Americans signing up for unemployment benefits is up."When we look across the labor market, we are seeing broad indications of cracks beginning to show,’’ said Sarah House, senior economist at Wells Fargo. "Overall conditions aren’t nearly as strong as what we were seeing three to six months ago.’’RELATED: Are we in a recession?
The definition of recession explainedThe Labor Department reports on Friday how many jobs were created in July and whether the super-low U.S.
United States
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Cases: 46 252 513
Deaths: 750 423
Recovered: 0
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India
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Cases: 34 321 025
Deaths: 459 652
Recovered: 0
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Brazil
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Cases: 21 835 785
Deaths: 608 235
Recovered: 0
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United Kingdom
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Cases: 9 215 683
Deaths: 141 607
Recovered: 0
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Russia
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Cases: 8 494 589
Deaths: 237 619
Recovered: 0
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