Investors are once again concerned that the economy of the United States could dip far enough into a recession as recent jobs data shows a slowdown in new job creation and an increase in jobless claims.
According to the Department of Labor ‘s report, job openings slipped to 9.9 million in February, the lowest since May 2021 . This is also down from a revised 10.6 million new jobs created in the prior month.
Economic analysts note that they expected job creation to slow down drastically this year after 2021 became the best year for job creation on record and 2022 saw the Federal Reserve continuously raise its benchmark interest rate in a bid to corral inflation. This has resulted in a massive slowdown of the economy that the Fed believes is necessary to stop inflation. (Related: American banks are sitting on a TIME BOMB of $1.7 trillion in unrealized losses […]
Excerpt Sourced From: ourgoldguy.com
