Unemployment Soars To Highest Level - Wages Dive As Inflation Soars And Recession Looms

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unemployment soars 2022 recession -

After three months of rapidly declining job openings, which however were not declining fast enough to put a dent in surging wages or to tighten the labor force to a point where the unemployment rate jumps and forces the Fed to halt or reverse its rate hikes, moments ago the BLS reported that in July, contrary to the hopes and expectations of virtually everyone from the Fed to the Biden admin, the number of job openings actually jumped from 10.7 million (since revised to 11.04 million) to north of 11.2 million, smashing expectations of 10.375 million by over 800,000!