Article source: ConstructConnect
In the U.S. in June, according to the latest Employment Situation report from the Bureau of Labor Statistics, jobs creation maintained a strong pace, +372,000, although it didn’t quite keep up with the average through the first five months of this year, +474,000.
The seasonally adjusted (SA) unemployment rate stayed at the 3.6% level where it has been lodged for four months in a row now.
The 3.6% U rate is extremely low. There’s much talk by analysts and in media circles about a recession being imminent, or maybe even already underway. The speculation is reasonable given the rampant price inflation that is underway, the consequent hikes in interest rates being initiated by the Fed, and the darkening mood of consumers as reflected in confidence surveys.
