The United States labor market continues to show strength as 250,000 new jobs were added in July, surpassing economists’ expectations. The unemployment rate remained steady at 3.9 percent, close to a historic low.
The health, technology, and construction sectors drove most of the gains, while retail saw slower growth. Economists say the strong numbers suggest the US economy is resilient despite global uncertainties, including inflation and supply chain disruptions.
President Joe Biden welcomed the report, calling it proof of “sustained economic recovery.” However, critics argue that wage growth is still lagging behind inflation, leaving many Americans struggling with high living costs.