U.S. employers in July fully replaced the 22 million jobs lost at the start of the pandemic and the unemployment rate returned to a half-century low, showing the vastly changed labor market has recovered from the tumult created by Covid-19.
With the 528,000 added jobs last month, the U.S. economy gained back all the jobs lost early in the pandemic, the Labor Department said on Friday. The unemployment rate also fell to its prepandemic half-century low of 3.5%.
