BusinessAugust 8, 2022
New jobs report shows strong U.S. labor market
The nation's unemployment rate, buoyed by a new jobs report showing new nonfarm jobs growing at a rate more than double what analysts expected, fell one-tenth of 1 percentage point in July to 3.5%, defying expectations during a period of exploding inflation...
The nation's unemployment rate, buoyed by a new jobs report showing new nonfarm jobs growing at a rate more than double what analysts expected, fell one-tenth of 1 percentage point in July to 3.5%, defying expectations during a period of exploding inflation.
Nonfarm payrolls rose 528,000 for July, more than doubling the Dow Jones estimate of 258,000.
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Wage growth also surged last month as average hourly earnings jumped 0.5% for the month and 5.2% from a year ago, higher than estimates.
In Missouri, the June jobless rate — the latest available metric — stood at 2.8%, down three-tenths from May's 3.1%.
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