5 things to know on Friday

Jobs Report on Inflation, Recession Fears Grow

With inflation and recession fears growing among middle-class Americans and affecting spending habits, the much-anticipated monthly jobs report is due out on Friday. Some economists are expecting brighter news for this area of ​​the economy, and Wells Fargo raised its forecast for 240,000 non-farm jobs added in July, up from 215,000. However, weekly jobless claims have crept to the highest levels since late 2021 despite not being seen at alarming levels yet. However, layoffs or hiring freezes continue to be announced almost daily, and some economists expect more as the economy slows under the weight of higher interest rates.

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