The U.S. economy added 187,000 jobs in July, and the unemployment rate dropped to 3.5%, the U.S. Bureau of Labor Statistics reported Friday. See potential biases and similarities in reports from cnbc, cnnbusiness and foxbusiness:
The U.S. economy added 187,000 jobs in July, and the unemployment rate dropped to 3.5%, the U.S. Bureau of Labor StatisticsEconomists were expecting a net gain of 200,000 jobs. June’s job growth was revised from 209,000 jobs down to 185,000. The unemployment rate fell from 3.6% to 3.5% in July and remains near a 50-year low. Average hourly earnings rose 4.4% annually.
The labor force participation rate remained at 62.6% for the fifth straight month, while the participation rate for the 25-to-64 age group fell to 83.4%. Job additions were seen in sectors including health care , social services , financial activities and hospitality . Sources from left to right framed the job growth positively despite it falling short of expectations.
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