Strong U.S. Labor Market Amid Technical Recession

"The jobs report was very good as the economy added 528,000 jobs. Employment and spending remain strong despite a technical recession. The next few months could be slow growth or a bad turn down. Current inflation is mostly caused by the Fed," says Thomas Hogan. "Employment Situation report shows the U.S. labor market remains strong. While layoff anecdotes circulate, they do not cause aggregate damage. It is clear we are not in a recession. Watch how consumer spending patterns intersects with inflation," Nick Bunker adds.