Economy

US adds 528,000 jobs in July, unemployment falls to 3.5%

Number of unemployed people in US declined to 5.7M

Ovunc Kutlu   | 05.08.2022
US adds 528,000 jobs in July, unemployment falls to 3.5%

ANKARA

The US economy added 528,000 jobs in July, well above market estimate, while the unemployment rate fell to 3.5%, the Labor Department announced on Friday.

The market expectation for nonfarm payrolls was an increase of 250,000.

Job additions for June were revised up by 26,000, from 372,000 to 398,000, according to data from the Bureau of Labor Statistics.

The unemployment rate fell to 3.5%. The market expectation for the data was to come in unchanged from the previous month's figure of 3.6%.

The number of unemployed people in the US decreased to 5.7 million in July.

Due to the coronavirus pandemic, more than 22 million people in the world’s largest economy lost their jobs in March and April 2020.​​​​​​​

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