US Adds 528,000 Jobs in July

The United States added 528,000 jobs in July as the labor market replaced the jobs lost during the COVID-19 pandemic.

The US Labor Department said on Friday the unemployment rate fell from 3.6% to 3.5%, matching a 50-year low and is equal to its rate in February 2020 before the COVID-19 pandemic lockdowns started in March 2020.

Job gains were broad-based in July, with leisure and hospitality accounting for 96,000 new workers.

Professional and business services added 89,000 jobs; health care added 70,000; construction added 32,000; manufacturing added 30,000; and retail added 22,000 hires.

Federal, state, and local governments in the US added 57,000 jobs.

The US has added a total of 22 million jobs since reaching a low in April 2020 and has now replaced the jobs lost during the COVID-19 pandemic.

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