A record-setting July sets the stage for the year to come as the U.S. Department of Labor releases its 7th jobs report of the year. Last week, the government entity reported a growth rate of 164,000 jobs added to the workforce last month; only 1,000 less than Dow Jones estimates. While nowhere near an increase like we saw in June, with total labor force participation breaking all records to land at a 163.4 million high coupled with unemployment hovering at 3.7%, July seemed to remain steady in choppy global trade waters.
According to CNBC, overall, “The report ‘illustrates that, for all the concern over weak global growth and trade policy, the domestic economy is still holding up reasonably well,’ said Andrew Hunter, senior U.S. economist at Capital Economics.” While economists still believe a recession is on the horizon for 2020, we’ll simply have to wait and see.
Learn more about the state of employment in our infographic below: