Jobs Report
The US Jobs Report for July smashed all expectations, adding 528,000 jobs in one month.
The US has now recovered the entirety of jobs lost from the start of the traveling in 2020. A much faster recovery than past downturns such as The Great Recession.
The unemployment rate fell to 3.5%, matching the lowest level in 50 years.
Of course Presidents don’t single handedly create jobs. It also means the Fed will be further challenged to manage inflation.
But jobs are good. Though we can expect the politicians to squabble over it still.
