US Economy Added 528,000 Jobs in July

US Economy Added , 528,000 Jobs in July.<br />According to data released by the <br />Bureau of Labor Statistics on Aug. 5, .<br />America added 528,000 nonfarm payrolls for July.<br />The unemployment rate fell to 3.5%.<br />The report exceeded Dow Jones estimates of 258,000 new jobs and an unemployment rate of 3.6% for the month. .<br />July's 528,000 added jobs marks a <br />significant increase from the 372,000 jobs added the month prior. .<br />CNBC reports that average hourly earnings also increased 0.5% for July and <br />5.2% compared to a year ago.<br />Daniel Zhao, a senior economist at the career site Glassdoor, says the increase in hiring contradicts typical recession conditions.<br />It would be very unusual to have a recession when we’re still adding several hundred thousand <br />jobs a month, Daniel Zhao, a senior economist at the career site Glassdoor, via ABC News.<br />But as inflation remains at its highest level in over <br />40 years, the Federal Reserve continues to aggressively <br />hike interest rates, which could slow job creation.<br />But as inflation remains at its highest level in over <br />40 years, the Federal Reserve continues to aggressively <br />hike interest rates, which could slow job creation.<br />Recently, major companies such as Walmart and Robinhood have announced layoffs and hiring slowdowns.<br />Recently, major companies such as Walmart and Robinhood have announced layoffs and hiring slowdowns