After the release of US weekly jobless figures earlier that day, on Thursday, Joe Biden’s chief of staff said in an interview with MSNBC TV: “We are not in a stagnation, but there are still requests for unemployment benefits. The economy expands at a historically low level. It’s powerful. It offers employment possibilities.”
The world economy is on the verge of going into a recession, according to economists surveyed by Reuters.
Recently, some CEOs of American businesses, notably Goldman Sachs, expressed concern that the country would enter a recession in 2019.
“There are no meetings or anything like that in preparation for a recession because . . . what we see now is a strong labor market,” the United House of House of House, Karen Jean-Pierre, told MSNBC earlier.
In light of the swift actions taken by the US Federal Reserve to raise the benefit in order to reduce inflation, the US Department of Labor reported on Thursday that the number of Americans who submitted new requests to obtain unexpected unexpected unexpected benefits last week has decreased, indicating that the labour market is still strong despite the slowdown in local demand.
The Ministry reported that in the week ending October 29, the number of petitions submitted for the first time decreased by a thousand, to a rate of 217 thousand, when considering seasonal considerations.
The data for the prior week was changed to reflect that there were 1,000 more requests than had been previously stated.
Reuters surveyed economists who predicted that the number of requests for the previous week would be 220,000.
The White House is not planning for a period of stagnation, according to two officials: America.
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