August 5th, 2022 by WCBC Radio
Defying anxiety about a possible recession and raging inflation, America’s employers added a surprising 528,000 jobs last month, restoring all the jobs lost in the coronavirus recession as the country’s hiring boom continued. Unemployment fell to 3.5%, lowest since the pandemic struck in early 2020. July’s job creation was up from 398,000 in June. The American job market has repeatedly defied skeptics this year. Economists had expected only 250,000 new jobs this month.
