US job growth beats expectations; unemployment rate falls 3.5%
US employers hired far more workers than expected in July, with the unemployment rate falling to a pre-pandemic low of 3.5%, providing the strongest evidence yet that the economy was not in recession.
U.S. employers added 528,000 jobs; unemployment falls to 3.5 per cent
Defying anxiety about a possible recession and raging inflation, America's employers added a stunning 528,000 jobs last month, restoring all the jobs lost in the coronavirus recession. Unemployment fell to 3.5 per cent, lowest since the pandemic struck in early 2020.