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Labor market booms and U.S. employers add more than half a million jobs

Employers added a surprising 528,000 jobs in July. This boost helped the unemployment rate drop to 3.5%, the lowest level in nearly 50 years. The Labor Department released the figures on Friday morning. It’s a rare positive in a bleak economic time as the labor market continues to defy fears that the economy is heading into a recession.

Here & Now‘s Peter O’Dowd discusses what this means for the economy with Mike Regan, senior editor at Bloomberg.

This article was originally published on WBUR.org.

Copyright 2022 NPR. To see more, visit https://www.npr.org.

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