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Jobs are up, wages less so – and lower purchasing power could still lead the US into a recession

By Christopher Decker, Professor of Economics, University of Nebraska Omaha

Don’t be overly fooled by seemingly rosy jobs data heading into the Labor Day weekend.

Yes, the U.S. economy added 187,000 jobs in August 2023 – faster than the revised 157,000 increase for July and above most analysts’ expectations for the month. And yes, gains were seen across most industries, with health care and social assistance adding 97,300 positions, leisure and hospitality boosting…

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