The US added 528,000 new jobs in July, more than double what was expected, and the unemployment rate fell to 3.5%.

The US added 528,000 new jobs in July (EFE / Cristóbal Herrera / File)

US employment rose in July as the economy added 528,000 jobs, defying all expectations of a slowdownAccording to official data published on Friday.

While, The unemployment rate fell to its lowest pre-epidemic level of 3.5 percentThe Department of Labor reported, amid widespread job gains. The data showed that total non-farm employment also recovered to its pre-pandemic level.

At the same time, Stock futures fell. S&P futures are down nearly 1%, Dow futures are down 0.64%, Nasdaq futures are down 1.15% and Russell 2000 futures are down 0.86% at 13:00 GMT, minutes before the opening. .

Employment data defied all expectations of a slowdown. Even the White House agreed with most economists in expecting the increase to slow to just 250,000 per month.what the boss Joe Biden He said it was part of a natural slowdown after the rapid recovery of the world’s largest economy from the pandemic.

Signs for a job fair on Fifth Avenue in Manhattan, New York (Reuters/Andrew Kelly/File)
Signs for a job fair on Fifth Avenue in Manhattan, New York (Reuters/Andrew Kelly/File)

in the meantime, Wages increased, with average hourly earnings increasing by 15 cents from Junewhich is definitely It will increase concerns about inflationThe Federal Reserve aggressively raised interest rates to calm the economy amid the highest price gains in more than 40 years.

Recruitment was strong in entertainment, hospitality and healthcareeach added 96,000 jobs or more, while manufacturing and construction gained 32,000 or more.

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

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