Business Insider: “A recession is unlikely to hit the US economy in the next 12 months after Friday’s hot jobs report”

Excerpt from Business Insider quoting DataTrek co-founder Nick Colas:

.... "The US labor market remains strong," DataTrek Research co-founder Nicholas Colas said, and that strength pushes off the likelihood of a recession that so many Wall Street strategists and business CEOs have been warning about in recent months.

Colas converted May's solid job growth into a percentage of the total US workforce to gauge what prior bouts of job strength said about a future recession, and the data is encouraging for stock market bulls who'd rather not see a recession happen anytime soon.

"History does support the idea that May's job growth pushed back the start of a US recession by at least six to 12 months. In no case since 1980 has the US economy slipped into a recession any sooner than that after a jobs report similar to what we got on Friday," Colas said"....

Full article here on Business Insider.