U.S. job growth solid in July; unemployment falls
The Hindu
‘Hiring surges on pent-up demand’
U.S. job growth rose solidly in July amid demand for workers in the labour-intensive services industry, suggesting the economy maintained its strong momentum at the start of the second half. Non-farm payrolls rose by 9,43,000 jobs last month after rising 9,38,000 in June, the Labor Department said in its closely watched employment report on Friday. Economists polled by Reuters had forecast payrolls increasing by 8,70,000 jobs. Job gains were, however, flattered by shifts in seasonal employment at schools caused by the pandemic. Estimates ranged from as low as 3.5 lakh to as high 1.6 million. Unemployment rate fell to 5.4% from 5.9%.More Related News