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Cycle Watch | June 2023 Jobs market keeps recession at bay
June 15, 2023
By Mark Hackett
By Ben Ayers
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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.
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