Search
Close this search box.

US employers add 528,000 jobs in July

Share

U.S. employers added an astonishing 528,000 jobs last month despite flashing warning signs of an economic downturn, easing fears of a recession and handing President Joe Biden some good news heading into the midterm elections.

Unemployment dropped another notch, from 3.6% to 3.5%, matching the more than 50-year low reached just before the pandemic took hold.

The economy has now recovered all 22 million jobs lost in March and April 2020 when COVID-19 slammed the U.S.

The red-hot numbers reported Friday by the Labor Department are certain to intensify the debate over whether the U.S. is in a recession.

“Recession — what recession?” wrote Brian Coulton, chief economist at Fitch Ratings, after the report came out. “The U.S. economy is creating new jobs at an annual rate of 6 million — that’s three times faster than what we normally see historically in a good year.”

Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments

Share

Share

People read this article

Support this article

Read article in English
Related News

Lorem ipsum dolor sit amet, consectetur adipiscing elit. In dapibus mi in augue auctor venenatis.

Related content