US Economy Adds 528,000 Jobs in July, Surpassing Estimates

A "now hiring" sign is displayed in a window in Manhattan in New York City on July 28, 2022. Spencer Platt/Getty Images

The U.S. economy added 528,000 new jobs in July, topping the market estimate of 250,000, according to the Bureau of Labor Statistics (BLS).

The unemployment rate dipped to 3.5 percent, down from 3.6 percent in June. The labor force participation rate slipped to 62.1 percent