The US reached the lowest unemployment rate of the pandemic era in July.
The US economy added 943,000 jobs in July and the unemployment rate fell to 5.4% — a new low of the pandemic era — the Bureau of Labor Statistics reported Friday.
It was the biggest job gain since August last year, when more than 1 million positions were added back, and more than the 870,000 economists had expected.
The June jobs gains was revised up as well, to 938,000 positions added, showing the recovery's strong pace over the summer.
"I have yet to find a blemish in this jobs report," wrote Harvard economist Jason Furman on Twitter (TWTR).
Since May 2020, America has added back 16.7 million jobs. But it's still 5.7 million short of its pre-pandemic level.
President Joe Biden on Friday touted the success of his administration's economic policies but tempered his message saying "we doubtlessly will have ups and downs along the way as we continue to battle the Delta surge of Covid."