‘What recession?’: US employers add 528,000 jobs

Unemployment dropped to 3.5% in July, matching a 50-year-low before the pandemic. The numbers are sure to intensify the debate over whether the U.S. is in a recession.

By

National News

August 5, 2022 - 3:19 PM

WASHINGTON (AP) — U.S. employers added an astonishing 528,000 jobs last month despite flashing warning signs of an economic downturn, easing fears of a recession and handing President Joe Biden some good news heading into the midterm elections.

Unemployment dropped another notch, from 3.6% to 3.5%, matching the more than 50-year low reached just before the pandemic took hold.

The economy has now recovered all 22 million jobs lost in March and April 2020 when COVID-19 slammed the U.S.

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