BUSINESSMARKETWATCH
U.S. economy keeps up the momentum, but rising costs put a cap on new hiring
The U.S. economy grew at a robust pace in July, but rising costs due to supply shortages and inflation led companies to limit new hiring.
Related Signal
Adjacent reporting
- US hiring falls to just 57,000 in June as employers pull back amid elevated inflation, global turmoil
- US employers pull back on hiring in June amid elevated inflation, global turmoil
- US economy undershoots forecasts with 57,000 jobs added in June
- US hiring slows in what economists are calling a ‘low-momentum’ labor market
- The Iran war hasn’t slowed the economy, but higher inflation leads companies to freeze hiring