Over the three months through October, U.S. employers added an average of 204,000 jobs a month, a marked slowdown from earlier in the postpandemic period.
Photo: Justin Sullivan/Getty ImagesThe U.S. economy is approaching what most economists had thought either unlikely or impossible: inflation returning to its prepandemic norm without a recession or even much economic weakness, a so-called soft landing.
“What we are expecting now is a soft landing,” said Nancy Vanden Houten , lead U.S. economist at Oxford Economics.
“We expect the economy to weaken quite a bit but it does look like we’ll avoid an outright contraction” in gross domestic product.
Persons:
Justin Sullivan, ”, Nancy Vanden Houten
Organizations:
Oxford Economics