Capital Market Impact

Cycle Watch | June 2023 Jobs market keeps recession at bay

June 15, 2023
A professional presenting findings to a couple of clients.

Another strong month of hiring in May shows the economy’s strength, but the hot jobs market complicates the Federal Reserve’s job to cool inflation. Since the beginning of the year, job growth has averaged 312,000 positions a month, but some cracks in the economy have emerged, such as the unemployment rate recently jumping to a seven-month high. Still, if a recession occurs, it is likely further away than previously thought.


  • This material is not a recommendation to buy or sell a financial product or to adopt an investment strategy. Investors should work with their financial professional to discuss their specific situation.

    Except where otherwise indicated, the views and opinions expressed are those of Nationwide as of the date noted, are subject to change at any time and may not come to pass.

    Nationwide Funds are distributed by Nationwide Fund Distributors LLC, member FINRA, Columbus, Ohio. Nationwide Investment Services Corporation, member FINRA, Columbus, Ohio.

    Nationwide, the Nationwide N and Eagle and Nationwide is on your side are service marks of Nationwide Mutual Insurance Company. © 2023 Nationwide