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Wage growth, lower unemployment underpin solid US jobs market

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Nonfarm payrolls increased 187,000 last month after a similar advance in June

04 August 2023 – 18:23 Augusta Saraiva

US employment increased at a solid pace in July while wages rose at a faster-than-expected clip, consistent with sustained labour demand that’s at the root of renewed momentum in the economy.

Nonfarm payrolls increased 187,000 last month after a similar advance in June, a Bureau of Labor Statistics report showed on Friday. The unemployment rate unexpectedly dropped to 3.5%, one of the lowest readings in decades…

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