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Historic investments are helping spur manufacturing growth, which now provides 137,000 more jobs than it did before the pandemic.
This month, we are highlighting labor market outcomes for Hispanic or Latino workers.
With 10 million jobs added since President Biden took office and an average of more than 370,000 per month over the last three months, this economy continues to produce strong and steady job growth that benefits workers and their families.
Labor force participation rose in August as more unemployed workers began seeking jobs.
The July jobs report marked two new milestones in the economic recovery: First, the number of Americans working exceeded the pre-pandemic number. Second, the unemployment rate is 3.5%, back to its pre-pandemic low.
Today, the Bureau of Labor Statistics reported that the American economy added 528,000 jobs in the month of July, and the unemployment rate ticked down to 3.5 percent.
Strong, steady job growth is an apt description of the second quarter of U.S. labor market. Over the last three months, the economy added an average of 375,000 jobs per month.
In June, the economy added 372,000 jobs, with a three-month moving average of 375,000, exceeding market expectations.
This month, the economy added 390,000 jobs, with a 3-month moving average of 408,000. Job growth remains steady.
Chief Economist Janelle Jones highlights five numbers from the latest jobs report and what they mean for the U.S. economy.