US Adds 528K Jobs in July, More Than Doubling Estimates

US Adds 528K Jobs in July, More Than Doubling Estimates

From coindesk.com

The U.S. economy saw a stark acceleration in hiring from July, putting to rest – for the moment – fears of a recession. U.S. employers added 528,000 jobs, a report by the Labor Department on Friday showed, up from 372,000 jobs in June and the fastest growth in five months. The figure exceeded economists’ average estimate of 250,000 jobs in a FactSet survey. The unemployment rate remained dropped to 3.5% from 3.6%. The price of bitcoin (BTC) fell modestly following the report, but remains higher by 2% over the last 24 hours at $23,100. U.S. stock index futures fell 1% on the news as the strong figures seem to ... (full story)

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