July employment numbers suggest that the economy isn’t heading into recession but instead is accelerating as the third quarter begins, Chief Economist Gerald Cohen said during the institute’s monthly economic briefing Aug. 5. “It’s still post-COVID recovery, but … we’ve surpassed the pre-COVID levels by 32,000,” Cohen said, as reported by the Triangle Business Journal. “This report now puts us above pre-COVID levels in terms of job creation.” Cohen’s analysis of the Labor Department’s monthly employment report also appeared on WRAL TechWire, WRAL.com, WNCN-TV and WPTF-AM.
Recession? Forget About It, UNC Economist Says After July Payrolls Soar 528K
