A much better than expected jobs report from the Bureau of Labor Statistics this morning, showing robust hiring and a dropping unemployment rate.
Here are some of the highlights from the release:
“Total nonfarm payroll employment rose by 528,000 in July, and the unemployment rate edged down to 3.5 percent, the U.S. Bureau of Labor Statistics reported today. Job growth was widespread, led by gains in leisure and hospitality, professional and business services, and health care. Both total nonfarm employment and the unemployment rate have returned to their February 2020 pre-pandemic levels.”
- Leisure and hospitality added 96,000 jobs
- Professional and business services added 89,000 jobs
- Health care added 70,000 jobs
“The change in total nonfarm payroll employment for May was revised up by 2,000, from +384,000 to +386,000, and the change for June was revised up by 26,000, from +372,000 to +398,000. With these revisions, employment in May and June combined is 28,000 higher than previously reported.”
You can read the full report from the Bureau of Labor Statistics here.