Recession? Forget about it, UNC economist says after July payrolls soar. But warns Fed will keep tightening

Calling the newly released payroll numbers for July a “humdinger” of a report, the top economist at the University of North Carolina said today's jobs numbers shows the economy is not slowing down.

“This data suggests this is not a recession,” economist Gerald Cohen told reporters today during a briefing following the latest report from the U.S. Bureau of Labor Statistics. “In fact, this data is suggesting an acceleration.”

The job growth is faster than seen in the last two economic…

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