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IPFS News Link • Economy - Recession-Depression

Recession Or No Recession? Elon Musk Finds It 'Hard To Tell What The Heck Is Going On'

•, by Ananya Gairola

What Happened: On Friday, it was reported that despite soaring interest rates reaching levels not seen in over 20 years, American businesses persisted in increasing their workforce last month, albeit at a slower rate than projected.

The country's unemployment rate fell to 3.5%, surpassing expectations and remaining near historic lows. 

In response to this news, a user of Twitter, now rebranded as "X," said that the positive job growth indicated no recession. 

However, Musk suggested a shadow of doubt, stating, "One day it seems like we're headed for a recession, the next day everything's fine. Hard to tell what the heck is going on!"

Musk's cryptic remark, given his influential status in the business world, captured widespread attention. While job growth figures seemed promising, netizens were still not satisfied and kept questioning the complex aspect of the current economic landscape.

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