RE: Global sell off….3 Aug 2024 08:51
At least look at the full picture, eg the BBC summary yesterday.aslso don't forget US stocks were at ATH so due a correction
n a statement following the jobs figures, President Joe Biden said the economy was still making progress.
The US economy expanded at an annual rate of 2.8% this spring, bouncing back after a slump at the start of the year.
Last month's uptick in the unemployment rate also appeared driven by a rise in people looking for work, rather than a sudden surge in job losses, analysts said.
Nancy Vanden Houten, lead US economist at Oxford Economics, said she thought the report was "overstating emerging weakness".
"We aren't dismissing the entire upward creep in the unemployment rate, but the economy is not in recession," she said.