SVS’s Eugene Lupario Quoted on AP News

Fewer Americans got jobs in July than expected. But a steady market suggests US may avoid recession

Eugene Lupario, who owns the SVS Group staffing firm in Oakland, California, is seeing signs of a labor market slowdown – though certain businesses, such as restaurants and bars, are still hiring aggressively. “Interest rates have had an impact,’’ he said. Banks and home lenders have been hit hard by higher borrowing costs and aren’t looking for much help. “They’re not getting new loans. They’re not getting refis,’’ Lupario said. “Because rates are where they are, nobody’s going out there and buying first or second homes right now.’’

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