Good News on Jobs May economics Mean Bad News Later as Hiring Spree Defies Fed

Econconnect

America’s job market is remarkably strong, a report on Friday made clear, with unemployment at the lowest rate in half a century, wages rising fast and companies hiring at a breakneck pace.But the good news now could become a problem for President Biden later.Mr. Biden and his aides pointed to the hiring spree as evidence that United States is not in a recession and celebrated the report, which showed that employers in the United States added 528,000 jobs in June and that pay picked up by 5.2 percent from a year earlier.