WASHINGTON (Pakistan Point News / Sputnik - 04th August, 2023) The US economy added 187,000 jobs in July, the smallest expansion of its kind in two and half years, according to Labor Department data that showed the Federal Reserve getting closer in its bid to bring inflation back to levels that existed before the outbreak of the coronavirus pandemic.
Economists polled by US media had expected a jobs growth of 200,000 for last month, from a previously published 209,000 for June, which the Labor Department now revised down to 185,000. While the revision meant that jobs effectively grew by only 2,000 in July, it was also a sign that the labor market had begun cooling significantly from last month itself versus May's final figure of 306,000.
