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| Happy Friday, Daily Money readers. It's Bailey Schulz here to bring you the day's top stories. |
| The Labor Department released the latest jobs report today, revealing that the U.S. is still adding too many jobs for the Federal Reserve's liking. |
| Employers added 311,000 jobs last month – a slowdown from January but still large enough to raise concerns that the Fed will accelerate interest rate hikes to fight inflation. Economists had been forecasting 225,000 job gains. |
| The unemployment rate rose from a 54-year low of 3.4% to 3.6%. |
| Federal Reserve Chair Jerome Powell said earlier that today's report would be critical in setting the Fed's course, stoking fears that aggressive rate hikes could trigger a recession later this year. |
 | | Hiring sign is displayed at a restaurant in Highland Park, Ill., Thursday, July 14, 2022. | | Nam Y. Huh, AP | |
But will it really? |
| But it seems as though economists are constantly saying there will be a recession in six months, and it hasn't panned out yet. |
| All the job gains have forecasters upgrading their outlook for the economy and pushing back estimates for a recession start time. |
| Fifty-eight percent of economists say there's more than a 50% chance of a downturn in the next 12 months, according to a panel of 48 forecasters surveyed Feb. 3-10 by the National Association of Business Economics. |
| But just 28% expect the slump to begin in this quarter, compared with 52% who held that view in December. Instead, 33% predict a recession will start in the second quarter and another 21% say it will begin in the third quarter. |
📰 More stories you shouldn't miss 📰 |
| Daylight saving time is upon us. Get ready to spring forward with deals on coffee, more |
| 'A really exciting time': 12 of the most anticipated new roller coasters opening in 2023 |
| Yeti recalls nearly 2 million soft coolers and gear cases over possible magnet detachment |
| This is the app that Americans want to delete more than any other, even Facebook |
| More than 300 people fall ill on Ruby Princess cruise ship, CDC says |
| DeSantis and GOP are waging war against 'woke' ESG. Now business groups are fighting back. |
| Millennials to Baby Boomers: Why workers of all ages are adding to the labor shortage |
| Recession and retirement: How to preserve your 401(k) during a downturn |
🍔 Today's Menu 🍔 |
| Scrambled eggs, French toast and a blueberry muffin served about 35,000 feet in the air. |
| Delta is bringing back its kids menu next month, which will offer a variety of options for picky eaters. The dishes were put on pause earlier in the pandemic. |
| Along with the breakfast menu, the airline will have a lunch and dinner kids special with cheese tortellini with marinara sauce and parmesan. The meals will be available in all cabins on long-haul international flights and in first class on most domestic routes. |
About The Daily Money |
| Each weekday, The Daily Money delivers the best consumer news from USA TODAY. We break down financial news and provide the TLDR version: how decisions by the Federal Reserve, government and companies impact you. |
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