US economy records 528,000 additional employment opportunities in July, unemployment drops to 3.5 percent

(MENAFN) The Labor Department declared on Friday that the US economy put 528,000 additional employment opportunities as of last month, well above market expectation, whereas the unemployment rate saw a drop of 3.5 percent.

The market estimation for nonfarm payrolls stood at a rise of 250,000.

The added jobs for June were restudied up by 26,000, from 372,000 to 398,000, as shown by figures from the Bureau of Labor Statistics.

The unemployment level dropped to 3.5 percent, whereas the market approximation for the figures was to come in unaffected from the last month’s number of 3.6 percent.

The number of jobless people in the US witnessed a drop of 5.7 million last month.

As a result of the coronavirus epidemic, at least 22 million people in the world’s biggest economy lost their occupations in March and April two years ago.


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