'What recession?': US employers add 528,000 jobs in July
August 5, 2022
WASHINGTON (AP) — U.S. employers added an astonishing 528,000 jobs last month despite flashing warning signs of an economic downturn, easing fears of a recession and handing President Joe Biden some good news heading into the midterm elections.
Unemployment dropped another notch, from 3.6% to 3.5%, matching the more than 50-year low reached just before the pandemic took hold.
The economy has now recovered all 22 million jobs lost in March and April 2020 when COVID-19 slammed the U.S.
The red-hot numbers reported Friday by the Labor Department are certain to intensify the debate over wheth...