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President Joe Biden celebrated the better-than-expected July jobs report on Friday, calling it “the result of my economic plan to build the economy from the bottom up and middle out.”
Although the White House had initially anticipated a lower figure, the Biden administration and other Democrats in Washington celebrated the numbers.
The headline print of 528,000 new jobs last month allowed the United States to return the 22 million positions that were lost during the coronavirus pandemic. But market analysts are digging through the data and finding new trends and fresh hurdles that the economy still needs to overcome. Are Workers Worried About a Recession?
A July Insight Global survey found that almost 80 percent of U.S. workers fear losing their job in a recession , with 54 percent of respondents saying they would be willing to take a pay cut if it meant staying employed.
Moreover, a June CNBC All-America Workforce Survey found that 83 percent of workers identified a recession as their top near-term concern. This was followed by wages not keeping pace with inflation. Recession fears have been paramount for the last several months. However, now that the United States has slipped into a technical recession—back-to-back negative GDP […]
Read the whole story at slaynews.com
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