US economy adds 528,000 jobs in July, blowing past expectations

FAN Editor

U.S. job growth unexpectedly accelerated in July, defying fears of a slowdown in hiring even as the labor market confronts the twin threats of scorching-hot inflation and rising interest rates.

Employers added 528,000 jobs in July, the Labor Department said in its monthly payroll report released Friday, blowing past the 250,000 jobs forecast by Refinitiv economists. The unemployment rate, meanwhile, edged down to 3.5%, the lowest level since the COVID-19 pandemic began more than two years ago.

This is a developing story. Please check back for updates.

Free America Network Articles

Leave a Reply

Next Post

House Republicans call on Biden admin to rescind 'dangerous,' potentially unconstitutional energy proposal

FIRST ON FOX: A group of 22 House Financial Services Committee Republicans penned a letter to the Biden administration Friday, urging it to rescind a potentially unconstitutional environmental rule targeting Wall Street. The GOP lawmakers, led by Rep. John Rose, R-Tenn., warned Securities and Exchange Commission (SEC) Chairman Gary Gensler […]