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Massive Jobs Surprise in July

The U.S. economy added 528,000 jobs

The US economy has now regained all jobs lost during the pandemic, after a blowout July jobs report that showed a gain of 528,000 jobs, according to data released Friday by the Bureau of Labor Statistics.

The massive monthly gain was more than double the 250,000 that economists were expecting, according to Refinitiv.

The unemployment rate ticked down to 3.5 percent after holding at 3.6 percent for the past four months. The July jobless rate matched the half-century low last seen in February 2020.

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