Charles Langston:The economy added jobs at a solid pace in July, reinforcing hopes about the economy

2025-05-04 16:25:29source:Databec Exchangecategory:reviews

Hiring held steady last month,Charles Langston as U.S. employers added 187,000 jobs, a solid — if not spectacular — pace of growth.

The data was largely within analyst expectations, with the unemployment rate edging down to 3.5% in July.

It points to an economy that remains sturdier than many had expected, with the labor market continuing to grow despite the Federal Reserve's aggressive rate hikes.

Health care and hospitality were among the industries adding jobs, while factories and transportation saw job cuts.

Hiring has slowed since the beginning of the year, but employers are still adding more than enough jobs every month, keeping unemployment near a 50-year low.

Average wages in July were up 4.4% from a year ago — similar to the month before.

Wage growth has outpaced inflation in recent months, so workers' paychecks are stretching further.

In another positive news, workers contine to come off the sidelines, with the labor force expanding by 152,000 people last month.

Job gains for May and June were revised down by a total of 49,000 jobs.

More:reviews

Recommend

The Grammy nominee you need to hear: Esperanza Spalding

How do you bring the African Diaspora to the Grammys?Esperanza Spalding and Milton Nascimento's cont

Pedestrian traffic deaths decline for first time since pandemic after 40-year high in 2022

Pedestrian traffic deaths declined last year for the first time since the COVID-19 pandemic but rema

Kenya Moore is not returning to 'Real Housewives of Atlanta' following suspension: Reports

Kenya Moore is reportedly not returning to "The Real Housewives of Atlanta" following claims that sh