Yahoo Finance reports:
The US economy created 187,000 new jobs in July while the unemployment rate fell to 3.5%, the Bureau of Labor Statistics said Friday. Economists had expected job gains to total 200,000 with the unemployment remaining unchanged at 3.6%.
Wages, a closely watched indicator of how much leverage workers are exerting in the labor market, rose more than expected last month, rising 0.4% on a monthly basis and 4.4% over last year. Economists expected wages to rise 0.3% over last month and 4.2% over last year.
Job gains have now averaged 312,000 per month over the last year. By industry, health care and social assistance was by far the biggest job creator last month with 87,100 new roles created in this industry, accounting for nearly half of the total growth in nonfarm payrolls.
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Jobs report: US economy creates 187,000 new jobs in July as labor slowdown continues, unemployment rate falls to 3.5% https://t.co/47hEu3zg8e
— Yahoo Finance (@YahooFinance) August 4, 2023
