Big payroll gains push recession fears into the corner — for now

(CNBC) June’s big payroll jump helped clear away some of those recession clouds for a U.S. economy that nonetheless faces some stormy weather ahead. Job gains of 372,000 convinced most Wall Street economists that the idea of a first-half recession is “fanciful,” as one put it. A 3.6% unemployment rate is hardly consistent with an economic downturn, at least for the six months of 2022 that are in the rear view.

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