US employers added 943,000 jobs in July, signaling a strong labor market

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The US economy added 943,000 jobs in July and the unemployment rate fell to 5.4%, the Bureau of Labor Statistics reports. It was the biggest job gain since August last year.

It was the biggest job gain since August last year, when more than 1 million positions were added back, and more than the 870,000 economists had expected.The June jobs gains was revised up as well, to 938,000 positions added, showing the recovery's strong pace over the summer."I have yet to find a blemish in this jobs report," wrote Harvard economist Jason Furman on Twitter .Since May 2020, America has added back 16.7 million jobs. But it's still 5.

Both measures are still below their February 2020 level."The stagnant participation rate confirms that there are millions of potential workers who are still outside the labor force, not currently looking for work and therefore not counted among the unemployed," said Cailin Birch, global economist at The Economist Intelligence Unit.

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