LieutenantRedPandaMaster496
Overview For this reading, you will use social annotation to…
Overview
For this reading, you will use social annotation to comment and take notes. Social annotation is a way to read and take notes with your classmates. Social annotation is reading and thinking together. It brings the age-old process of marking up texts to the digital learning space while also making it a collaborative exercise. The tool that makes this possible is Hypothes.is.
Directions
Use Hypothesis to annotate specific segments of the articles and try to label the type of media bias you see there.
Label at least two types of media bias. If you don’t see any types, make a note in Hypothesis to explain that to your group
Hiring surged in July, with employers
adding 528,000 jobs Send to Kindle
moneywatch
By Aimee Picchi
Updated on: August 5, 2022 / 7:13 PM / MoneyWatch
Hiring surged in July, with U.S. employers creating 528,000 jobs last month, the
Labor Department said Friday. That far exceeded economist expectations for
gains of 250,000 new jobs during the period. It was also a jump from the previous
month, when businesses added 372,000 jobs despite the highest inflation in 40
years.
The unemployment rate ticked down to 3.5% from 3.6% in June, marking the
lowest since February 2020, just before the COVID-19 pandemic erupted in the
U.S. Before the latest payrolls report, the economy was adding roughly 450,000
jobs per month.8/8/22, 2:04 PM Mercury Reader
https://www.cbsnews.com/news/jobs-report-528000-july-08-05-2022/ 2/4
Both total nonfarm employment and the jobless rate have returned to their pre-
pandemic levels.
Jill on Money: Addressing the hiring surge, inflation and a
possible recession 02:30
The employment numbers underscore the resilience of the economy following
two straight quarters of declining GDP, which is considered a hallmark of a
recession. Despite this shrinking economic growth, hiring has remained robust as
businesses continue to add jobs and hold onto their current workers amid strong
consumer demand.
“This is a job market that just won’t quit. It’s challenging the rules of economics,”
said Becky Frankiewicz, chief commercial officer of hiring company
ManpowerGroup in an email after the data was released. “The economic
indicators are signaling caution, yet American employers are signaling
confidence.”
Why stocks may fall8/8/22, 2:04 PM Mercury Reader
https://www.cbsnews.com/news/jobs-report-528000-july-08-05-2022/ 3/4
Last month’s booming job growth is likely to weigh on stocks in the short term
because it suggests the Federal Reserve can continue to aggressively ratchet up
interest rates in order to tamp down inflation. S&P 500 futures were down 0.7%
prior to the market’s open on Friday, according to FactSet.
The central bank has been boosting rates in an effort to tame inflation, which is
running at the hottest levels in four decades. With the Fed’s four rate hikes so far
this year, it’s becoming more expensive for consumers and businesses to borrow.
Economists had expected that would contribute to businesses stepping back
from hiring, but July’s numbers demonstrate that employers are continuing to
add workers.
The July payroll figure “reflects an economy operating at a very robust level, one
that’s obviously not in recession and that can withstand tighter monetary policy,”
Wall Street analyst Adam Crisafulli of Vital Knowledge said in a client note.
Despite the strong labor market, other indicators show the economy is slowing
down as the Fed pumps the brakes. Some analysts point out that job growth
alone is an unreliable indicator of a downturn, noting that hiring often remains
strong in the early stages of a recession.
For example, in the three months immediately preceding the housing crash-
induced recession that started in December 2007, the Labor Department’s
