June jolts report released Tuesday

23ABC News

Former President Donald Trump is attacking special counsel Jack Smith as he faces the growing prospect of a new criminal indictment that he says could come any day now. Meanwhile, another Trump staffer has his day in court.

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00:00 >> Welcome back the job openings and labor turnover survey for June which is known as

00:05 jolts comes out this morning. Economists are predicting about 200,000 jobs were gained

00:10 last month while the unemployment rate is expected to stay at about 3.6%.

00:14 >> Yeah, and as for the overall economy, some analysts are starting to see a bright light

00:19 at the end of the money tunnel. John Lawrence reports.

00:22 >> The U.S. economy may not be metaphorically cruising down a highway, but it's maintaining

00:28 a nice speed.

00:29 >> A year ago, nobody thought a soft landing was even possible.

00:33 >> Some economists do think a soft landing, which means a cyclical slowdown without a

00:37 recession could in fact happen.

00:40 >> Most of our clients are not finding this a down period, but they are finding it a period

00:46 of high uncertainty, mixed views on the economic outlook. Obviously navigating a world of higher

00:51 interest rates that haven't been seen for many, many years.

00:54 >> Among the reasons for this optimism, data from the Bureau of Labor Statistics last week

00:59 shows the economy is cooling but still resilient. The U.S. gross domestic product, in layman's

01:05 terms the country's economic scorecard, also grew more rapidly than expected from April

01:10 through June. On the flip side, inflation is still higher than the Federal Reserve would

01:15 like and there's still a chance another interest rate hike could come in September.

01:21 >> I don't think the Fed can or should relax the 2% target, but I think it can be more

01:26 tolerant of a world where the inflation number starts with a 2, but we're on a glide path

01:31 to 2.0, but we don't necessarily get there fast.

01:35 >> In other words, the threat of a recession remains, but right now the glass appears to

01:40 be half full. I'm John Lawrence reporting.

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