US jobs unexpectedly soar in July

Share

By Cate Chapman, Editor at LinkedIn News

Updated 54 minutes ago

Confounding economists’ expectations of a slowdown, the U.S. economy added 528,000 jobs in July — more than double the amount forecast by Wall Street. The unemployment rate dropped to 3.5%, matching a 50-year low set just before the pandemic, a sign that many employers are brushing off recession fears. Meanwhile, year-on-year wage growth ticked up to 5.2%, from 5.1% in June. That could increase consumer demand and boost inflation, potentially leading to more aggressive interest rate hikes from the Federal Reserve.

Best marketing recruiters, Executive Marketing Recruitment, Executive Search Firm, Hire a CMO, Hire a VP, Digital Marketing, Marketing Executive Search, marketing executive search firm, Top Marketing Executive Search Firm, Top rated marketing executive search firm