, Columnist
US Labor Market Shows No Signs of an Imminent Recession
Americans are working more hours than before the pandemic, pointing to robust growth rather than a declining economy.
Americans are working more hours than before the pandemic.
Photographer: Adam Glanzman/Bloomberg
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Checking in on the health of the economy used to mean a quick glance at a handful of indicators: unemployment and inflation rates, a couple quarters of gross domestic product growth, housing market sales, maybe the recent performance of the stock market. That approach isn’t as useful here in the middle of 2022.
For reasons including the unwinding of pandemic behaviors, changes in monetary policy and the energy supply shock from Russia’s war on Ukraine, the data is a mess right now.