Gus Faucher, chief economist at PNC Financial Services, said he was impressed by the breadth of hiring last month: Among industries, health care companies added 67,000 jobs, government at all levels 52,000, restaurants and bars 42,000, construction companies 23,000 and retailers 19,000.
Another burst of hiring shows off the resilience of the U.S. job market
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But he said any downturn would be “mild” because “worker shortages will limit layoffs, consumer balance sheets are in great shape, the banking system is solid.”
State of the Union: Joe Biden sees economic glow, GOP sees gloom
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