US employers add 528,000 jobs in July

Jobs
FILE - A sign advertises for help The Goldenrod, a popular restaurant and candy shop, Wednesday, June 1, 2022, in York Beach, Maine. America’s hiring boom continued in July as employers added a surprising 528,000 jobs despite raging inflation and rising anxiety about a recession. (AP Photo/Robert F. Bukaty)

By PAUL WISEMAN
AP Economics Writer

WASHINGTON (AP) – 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 were reported Friday by the Labor Department.

Economists had expected only 250,000 new jobs last month, in a drop-off from June’s revised 398,000. Instead, July proved to be the best month since February.

Categories: National News, News