U.S. unemployment rate falls to 3.5% (Prepandemic levels) via /r/wallstreetbets #stocks #wallstreetbets #investing


U.S. unemployment rate falls to 3.5% (Prepandemic levels)

The U.S. labor market remained red-hot in July despite expectations job growth would cool as tighter monetary conditions and company layoffs stoked fears of a recession.

The Labor Department released its latest monthly jobs report at 8:30 a.m. ET on Friday. Here were the key numbers from the report, compared to economist estimates compiled by Bloomberg:

Non-farm payrolls: +528,000 vs. +250,000

Unemployment rate: 3.5% vs. 3.6%

Average hourly earnings, month-over-month: +0.5% vs. +0.4%

Average hourly earnings, year-over-year: +5.2% vs. +4.9%

The U.S. is the best economy on the planet.

https://finance.yahoo.com/news/july-jobs-report-august-5-2022-123238307.html

Submitted August 05, 2022 at 06:49PM by _bono983
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