US adds 528,000 jobs in July in stronger than expected showing
The US added 528,000jobs in July as the unemployment rate edged down to 3.5%. The stronger than expected report comes a month after the labor department announced the economy added 372,000 jobs in June.Economists had been expecting jobs growth to slow in July and the latest figures from the labor department were far stronger than the average 388,000 jobs gained over the last four months.Job growth was widespread, led by gains in leisure and hospitality, professional and business services, and healthcare.While the US economy has slowed this year, reporting two quarters of negative growth in the first six months, the jobs market has remained buoyant.
But there have been signs that it too is losing steam.Friday’s jobs report comes days after the government reported that the number of job vacancies across the US had dropped by 605,000 to 10.7m by the end of June, a decline of 5.4%.
Read more on theguardian.com
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