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.
Massive Jobs Surprise: US Economy Added 528,000 Jobs In July
The US economy has now regained all jobs lost during the pandemic, after a blowout July jobs report that showed a gain of 528,000 jobs, according to data released Friday by the Bureau of Labor Statistics.