📊 JOB REPORT: US adds 187k jobs in July; unemployment rate drops to 3.5%.

Bureau of Labor Statistics released the payroll report, showing a non-farm payroll increase of 187k jobs in July, slightly below market estimates. Unemployment rate falls to 3.5%, surpassing investor consensus of 3.6%.

Average hourly earnings for non-farm private sector workers rose to $33.74, up 0.4% from last month and 4.4% over the last 12 months. In July, average hourly earnings for production and non-supervisory private sector workers increased to $28.96, up 0.5%.

📈 May's payroll revised from 306k to 281k.

Unemployment at a historic low of 3.5%. Fed may consider further rate hikes due to strong labor market and focus on wage growth. #JobReport #Economy #USjobs