ROCK HILL, S.C. — Some economic numbers, like inflation, are hinting at a possible recession. But a strong June hiring report has alleviated some of that fear.
Employers added 372,000 jobs in June, something experts say is a surprisingly robust gain and is in line with the pace of the previous two months.
On a more local scale, the grand opening of a new mercantile shop in Rock Hill put the results of the June numbers into perspective.
"Think of what was going on a couple of years ago where small businesses were just failing," said Melissa Terrel, manager of Pallet Place and White Street Station Mercantile.
More than 50 thriving small businesses can be found inside the shop, selling anything from sweet-smelling candles to beloved old-school records. And so far, business is staying on beat.
“We anticipated it to be a success," Terrel said, "but this is just over the top.”
Tammy Streeter Hayes is the owner of SemiColon Soy Candles, selling soy-based candles inside Pallet Place and White Street Station.
“This is a hidden treasure," she said. "This space in Rock Hill is a hidden treasure.”
She said woes about high gas prices and talk of a recession seem far removed from the success she’s experiencing.
“It was so crowded in here today. Business was booming," she said.
Not only did June’s hiring report show employers added more than 300,000 jobs, but unemployment remained at 3.6% for the fourth straight month.
One customer says he hasn’t changed much of his spending habits.
"With all the money being printed and shelled out, people are spending more," Travis Torlone said. "That's not necessarily a positive."
The Federal Reserve is trying to maintain a balancing act of cooling off spending, but not too much because that could cause a recession.
“Rock Hill is a very small knit community," Terrel said, "and I feel like everybody just looks out for everybody here."
At this shop, there’s no talk about recession, just happiness for pre-pandemic type spending.
Contact Shamarria Morrison at smorrison@wcnc.com and follow her on Facebook, Twitter and Instagram.
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