May Jobs Report Brings Positive Outlook for US Economy.

The US economy is unlikely to fall into a recession in the next six to 12 months following May's strong jobs report, which showed 339,000 jobs were added to the economy last month. The report represented a goldilocks scenario for investors, signaling that the Federal Reserve could hit the pause button on further rate hikes. The report also pushed back the likelihood of a recession by at least six to 12 months, according to DataTrek Research. The strong jobs report helped explain why Wall Street's fear gauge fell to its lowest level since February 2020.