What a difference a job report makes. Earlier in the summer, people were worried that the economy was too hot. But now – in response mainly to weaker-than-expected employment data released on Aug. 2, 2024 – stocks are plunging. Some analysts even worry that a recession could be on the horizon.
As a professor of business economics, I beg everyone, from investors to consumers to policymakers: Please calm down, take 10 deep breaths and relax. The economic data, taken together, paint a brighter if more complex picture.
