America’s hiring boom continued last month as employers added a surprising 528,000 jobs despite raging inflation and rising anxiety about a recession.
July’s hiring was up from 398,000 in June.
The unemployment rate slipped to 3.5%.
The U.S. economy shrank in the first two quarters of 2022 — an informal definition of recession.
But most economists believe the strong jobs market has kept the economy from slipping into a downturn.