(CNBC) June’s big payroll jump helped clear away some of those recession clouds for a U.S. economy that nonetheless faces some stormy weather ahead. Job gains of 372,000 convinced most Wall Street economists that the idea of a first-half recession is “fanciful,” as one put it. A 3.6% unemployment rate is hardly consistent with an economic downturn, at least for the six months of 2022 that are in the rear view.
Big payroll gains push recession fears into the corner — for now
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