Charting the Global Economy: US Payrolls Rise at a Moderate Pace
An employee prepares a hot dog in Chicago, Illinois.
Photographer: Christopher Dilts/BloombergThis article is for subscribers only.
US employers continued to add workers at a steady, yet more moderate pace, suggesting the economy has scope to avoid a recession despite higher interest rates.
The economy in the euro area eked out modest growth in the second quarter, while the Bank of England raised rates and indicated borrowing conditions may remain tight for an extended period to stifle inflation.