CNBC: July Jobs Report Is “Far Better Than Expected”

CNBC reports:

Hiring in July was far better than expected, defying signs that the economic recovery is losing steam, the Bureau of Labor Statistics reported Friday.

Nonfarm payrolls rose 528,000 for the month and the unemployment rate was 3.5%, easily topping the Dow Jones estimates of 258,000 and 3.6%, respectively. Wage growth also surged higher, as average hourly earnings jumped 0.5% for the month and 5.2% from the same time a year ago.

The bureau noted that private sector payrolls are now higher than the February 2020 level, just before the pandemic declaration, though government jobs are still lagging.

Read the full article.

BREAKING: Payrolls increased 528,000 in July, much better than expected in a sign of strength for jobs market https://t.co/MAhKmg6hrz

— CNBC Now (@CNBCnow) August 5, 2022

This July jobs report is INSANE!!!

– 528,000 new jobs which is DOUBLE what was expected.

– Hourly earnings also rose more than expected with wages up 5.2% against expectations of 4.9%

Helluva week for ol’ Sleepy Joe.

— Jo ? (@JoJoFromJerz) August 5, 2022

The US labor market comes in hot again, adding 528,000 jobs in July https://t.co/kryoXl5sX1

— CNN Breaking News (@cnnbrk) August 5, 2022

‘It is a WHOPPER!’ CNBC’s Rick Santelli Stunned By July Jobs Report – That More Than Doubled Expectations https://t.co/lIEbKkyEcA

— Mediaite (@Mediaite) August 5, 2022