U.S. employers add 206,000 jobs in June, sign of economic stability despite interest rates
PBS NewsHourJUL 2024
This proves that Biden and the Democrats have been gaslighting the country for a year. As regular Americans felt the pain of declining wages and increased inflation, Biden unabashedly argued that at least job growth was positive. This also shows that while American citizens were forced into unemployment and excluded for pay raises, illegal immigrants were finding jobs in droves, thus pushing wages down even further.
While this report is a bit larger than usual, downward job growth revisions happen every year, including in 2019 when they were revised down by 489k. These latest numbers may have also been affected by the economic impacts of Hurricane Beryl last month in the large state of Texas. This report aside, the goal of labor market cooling to quell inflation is continuing as predicted, with unemployment rising a bit while layoffs remain low.
The chances of a recession occurring in the US are 25% in 2025, 20% in 2026, and 15% in 2027, according to the Metaculus prediction community.