• hello@whatnews.in
  • Home
  • Business
  • World
  • Contact US
Home»business»US Job Growth Surges By Half A Million In July, Tempering Slowdown Fears
business

US Job Growth Surges By Half A Million In July, Tempering Slowdown Fears

whatnewsBy whatnewsAugust 5, 2022No Comments2 Mins Read
Facebook Twitter LinkedIn Telegram Pinterest Tumblr Reddit WhatsApp Email
Share
Facebook Twitter LinkedIn Pinterest Email


US Job Growth Surges By Half A Million In July, Tempering Slowdown Fears

US job growth surges by half a million in July: Government

US job growth surged in July, as the economy added a surprising 528,000 positions, defying all expectations of a slowdown, according to official data Friday.

Even the White House had agreed with most economists in predicting the increase would slow to just 250,000 in the month, which President Joe Biden said was part of the natural slowdown after the rapid rebound of the world’s largest economy from the pandemic downturn.

Meanwhile, wages jumped — with average hourly earnings up 15 cents over June — which will surely add to inflation concerns, as the Federal Reserve raises interest rates aggressively to cool the economy amid the highest price gains in more than 40 years.

The widespread job gains helped lower the unemployment rate back to the pre-pandemic low of 3.5 percent, the Labor Department reported. And the outsized job gain in June was revised higher.

Total non-farm employment also recovered to its pre-pandemic level, the data showed.

Hiring was robust in leisure and hospitality and health care, which each added 96,000 or more, while manufacturing and construction gained 32,000 or more.

Builders have struggled for months to find workers to meet high demand for construction, but employment in the sector is now back to its pre-pandemic level, the report said.



Source link

Post Views: 121
fears growth Job July Million slowdown Surges Tempering US job growth US non-farm payrolls
Share. Facebook Twitter Pinterest LinkedIn Tumblr Telegram Email
Previous ArticleNRIs Can Pay Utility Bills Using Bharat Bill Payment System: RBI
Next Article RBI Policy To Boost Rupee, Ensure Financial Stability: Bankers
whatnews
  • Website

Related Posts

$3.4B Fake Aptos (APT) Token Scam Rocks Upbit Crypto Exchange

September 25, 2023

China’s cutthroat competition hasn’t been lost with the slowdown. EV companies fighting to win

September 25, 2023

Asian markets anticipate cautious start amid U.S. Federal Reserve policy implications By Investing.com

September 25, 2023
Add A Comment

Leave A Reply Cancel Reply

Subscribe to Updates

Get the latest sports news from SportsSite about soccer, football and tennis.

Advertisement
About Us
Privacy Policy
Contact Us
© Copyright 2023. All rights reserved.