U. S. News
U.S. unemployment dropped to 3.5% in July
By 
Editor
The unemployment rate in the United States dropped to 3.5 percent in July, down from 3.6 percent in June and the lowest level since February 2020.
More than half a million jobs were created in July, significantly surpassing market expectations of 250,000 and June’s 398,000. The hospitality sector, the food service sector, and the business service sector all contributed to the rise in overall numbers.
The announcement triggered a drop in the price of stock futures, as investors waited to see whether strong job growth would convince the Federal Reserve to maintain its policy of slowly increasing interest rates. Also, there was wage growth in July. The average wage went up by 0.5 percent for the month and by more than 5 percent compared to the same time last year.
The bank has already announced rate rises four times since March, responding to consumer prices that are increasing at their fastest pace since 1981. The inflation rate surged again in June to 9.1%.
-
Local News1 week agoThe Fargo Police Department publishes a high-risk sex offender alert
-
North Dakota2 weeks agoParents of a BSC graduate fly 5,000 kilometers to attend his graduation
-
Local News1 week agoSmoke causing visibility issues on North Dakota and Minnesota roadways
-
Local News1 week agoNew legislative chambers in North Dakota
-
North Dakota1 week agoAbout $15 million in childcare support to reward providers
-
Local News2 weeks agoFargo, North Dakota, to Test Outdoor Warning System
-
Local News1 week agoHector International Airport incident results in man’s arrest
-
Local News2 weeks agoFargo volunteers with Habitat for Humanity make steady progress on a new home