By Matt Egan, CNNThe Federal Reserve’s fight to squash inflation will cause the US economy to start losing tens of thousands of jobs a month beginning early next year, Bank of America warns. Unemployment to peak at 5.5%, Bank of America saysLast Friday’s jobs report showed that although the jobs market is slowing down, the United States added a stronger-than-expected 263,000 jobs in September. ‘Mild’ recessionSome forecasters are more bullish on the state of the jobs market. The Conference Board said Monday its employment trend index, a combination of leading job market indicators, ticked up last month. “Although nobody wants to be callous about someone losing their job,” Gapen said, “this could be classified as a mild recession.”The-CNN-Wire™ & © 2022 Cable News Network, Inc., a Warner Bros.

Source: CNN October 11, 2022 06:22 UTC