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July jobs report beats estimates as businesses add 943,000 payrolls amid steady recovery

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Job growth in the US exceeded economists’ expectations in July, signaling the labor market’s recovery was mostly unscathed as COVID cases rebounded.

The country added 943,000 nonfarm payrolls last month, the Bureau of Labor Statistics said Friday. The gain beat the median forecast of 870,000 new jobs from economists surveyed by Bloomberg. It also marks a healthy acceleration from growth seen the month prior, which was revised to 938,000 payrolls from 850,000.

The July increase serves as the seventh straight month of job additions and leaves 8.7 million Americans still unemployed. The unemployment rate dipped to 5.4% details ⇒

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