Is the economy in recession? The best economists say

‘We should have an objective definition’ Officially, the NBER define a recession as “a significant decline in economic activity that spreads throughout the economy and lasts for more than a few months.” In fact, the latest quarterly gross domestic product report, which tracks the overall health of the economy, showed a second contraction in a … Read more

Fed sees rates hike more aggressively after strong jobs report

Some economists expect the Federal Reserve to be more aggressive than the market expected, following July’s surprisingly strong jobs report. The economy added 528,000 jobs in July, more than double what was expected, and the unemployment rate even fell from 3.6% to 3.5%. Economists had expected job growth to have slowed from the previous month … Read more

It’s an ‘upside down’ recession and here’s what it means for the market

It’s work Friday. The release of the monthly US Non-Farm Payrolls report is always a highlight for Wall Street, particularly in an uncertain monetary policy environment when traders are hypersensitive to factors affecting the Fed’s thinking. In fact, the resilience of the labor market is causing many market watchers to say that, despite suffering two … Read more

4.2 million people quit in June despite recession concerns

A cool down in Work market it’s underway: The number of job openings fell in June, while a near-record number of people continued to quit and be hired in new roles, according to the Department of Labor. Latest job vacancies and job rotation summary. The labor market recorded 10.7 million new job openings in June, … Read more

Typical job changer got nearly 10% pay raise, study finds

Walrus Images | digital vision | fake images Many workers who recently changed jobs saw their new paycheck increases outpace inflation by a wide margin, by nearly 10% or more, according to a new study from the Pew Research Center. The typical American who changed employers in the year from April 2021 to March 2022 … Read more

66% worry a recession is coming. What concerns each generation most

A customer shops in a Kroger grocery store on July 15, 2022 in Houston. Brandon Bell | Getty Images As experts debate whether the US is on the brink of an economic downturn, many Americans are already bracing themselves for a recession. To that point, 66% of Americans worry that a major recession is right … Read more