US businesses are putting more and more people back to work. They hired new employees last month at a rate that beat market expectations.
Labor Department officials said on Friday that non-farm payrolls in July rose 528,000 compared to June. Workers returned to jobs in a broad array of sectors, from customer service and leisure to construction.
The unemployment rate fell from 3.6 percent in June to 3.5 percent in July. That is the lowest figure since before the pandemic, in February 2020.
Workers are also seeing higher paychecks. The average hourly wage rose by 5.2 percent compared to last July.
Workers are benefitting as companies compete for their services during the labor shortage.
Labor Department officials said on Friday that non-farm payrolls in July rose 528,000 compared to June. Workers returned to jobs in a broad array of sectors, from customer service and leisure to construction.
The unemployment rate fell from 3.6 percent in June to 3.5 percent in July. That is the lowest figure since before the pandemic, in February 2020.
Workers are also seeing higher paychecks. The average hourly wage rose by 5.2 percent compared to last July.
Workers are benefitting as companies compete for their services during the labor shortage.
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Summary
US businesses increased employment in July, surpassing expectations with a 528,000 rise in non-farm payrolls. This growth spanned sectors such as customer service, leisure, and construction. The unemployment rate decreased from 3.6% to 3.5%, reaching a post-pandemic low of February 2020 levels.
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ID: 62ee7077-da08-4414-baea-3f91c0a80b98
Category ID: nhk
URL: https://www3.nhk.or.jp/nhkworld/en/news/20220806_N02/
Date: Aug. 6, 2022
Created: 2022/08/06 22:45
Updated: 2025/12/09 14:30
Last Read: 2022/08/06 22:45