The global economy desperately needed some good news. That's what it got in the latest U.S. jobs report.
Related: American workers are a happy bunch
Ahead of today's release of the U.S. employment report for July, the mood was decidedly gloomy, with economic activity slowing in most other advanced countries, the U.K. facing a real and present danger of an economic recession and the risk of financial instability looming. Last week's disappointing report on U.S. gross domestic product, which showed a decline in business investment threatening to drag down still-buoyant consumer spending, added to the concerns.
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