The U.S. hiring saw a dramatic increase in July, as the economy added 528,000 jobs and the unemployment rate fell to 3.5%, according to data released by the Bureau of Labor Statistics on Friday. The 528,000 jobs added in July marks a significant uptick from 372,000 jobs added in June. Moreover, the figures signals an improvement from the already-robust hiring sustained over the first half of 2022, during which the economy added an average of 461,000 jobs each month. Data released last month showed that prices jumped a staggering 9.1% in June, which amounts to the highest inflation rate in more than four decades. US economy adds 528,000 jobs, far outpacing expectations originally appeared on abcnews.go.com

Source: ABC News August 05, 2022 19:14 UTC