Over 2.7 million people were hired in the first half of 2022 – a shockingly good number. Yet there seems to be a chorus of negative economic news recently. With each new data release, the reaction in response is another r-word:
Two quarters of negative real GDP growth – Recession! Inflation at a 40-year high while a war rages in Europe – Recession!The S&P 500 stock index down over 15% year-to-date – Recession!
Yet the labor market is still incredibly strong – the star pupil in the economic classroom. Can the U.S. be in recession with such strong job growth? No, is the answer Fed