Jobs surprise: U.S. economy added 528,000 jobs in July; CPI print coming next week

What recession? The good news: A much stronger than expected reading on July employment came in hot. The U.S. economy added 528,000 jobs in July, the Labor Department reported, far exceeding the 258,000 consensus estimate. The unemployment rate ticked down to 3.5% from 3.6%, while average hourly earnings climbed 15 cents, or 0.5%, to $32.27. This unemployment rate marks the lowest since February 2020.

The bad news: The strong reading reinforced expectations for the Federal Reserve to ke...

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