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'You Can Stuff Your Recession Talk In A Sack, Mister': Economists React To July Jobs Report On Twitter

Nonfarm payroll employment rose by 528,000 jobs in July, significantly higher than consensus expectations, the U.S. Bureau of Labor Statistics reported Friday

The unemployment rate fell to 3.5%, reportedly the lowest unemployment rate in over half a century, and well below last July when it was at 5.4%.

Private sector employment is now 629,000 jobs higher than it was pre-pandemic in February 2020.


Growth continued in the leisure and hospitality sector, which added 96,000 jobs in July, including 74,000 jobs in food services and drinking places. Employment in leisure and hospitality, however, is still below its February 2020 level by 1.2 million jobs.

Construction employment also grew, adding 32,000 jobs in July, and is now 82,000 jobs higher than it was in February 2020.

The retail trade sector also saw a jump, adding 22,000 jobs in July. There are now 208,000 more retail trade jobs than there were in February 2020.

Here's how economists and others reacted to the July jobs report on Twitter:























Related Topics: jobs, Jobs Report