San Jose, CA
Quoted from MtnFrost:The jobs report was released, and as I was reading it, this part seemed relevant to our discussion, the last sentence echoes what others here have said (taken from the NYT):
"The Labor Department reported Friday that employers added 390,000 jobs, the 17th straight monthly gain.
The unemployment rate was 3.6 percent for the third straight month, near a half-century low. Average hourly earnings for employees rose by 10 cents, or 0.3 percent on a monthly basis, and were 5.2 percent higher than a year earlier.
Jobs growth was broad and led by the leisure and hospitality sector, as consumers continued to pivot their spending habits away from goods and toward services like travel, dining and entertainment."
Strong jobs report means the fed has to do more to slow the economy to keep inflation down like raising rates which will lead to a recession or even stagflation.
