July saw more good news for the economy; the U.S. unemployment rate dropped to 3.9% as the U.S. added 157,000 new jobs. The Labor Department stated, “Employment increased in professional and business services, in manufacturing, and in health care and social assistance … the number of unemployed persons declined by 284,000 to 6.3 million in July. Both measures were down over the year, by 0.4 percentage point and 676,000, respectively.”
MarketWatch reported, “The average wage paid to American workers rose by 7 cents, or 0.3%, to $27.05 an hour. The yearly rate of pay increases was unchanged at 2.7%.”- READ MORE
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