The number of jobs in the United States increased by 943,000 last month. That’s a lot more than the expected 870,000. Unemployment fell from 5.9% to 5.4% in July.

The number of people who work part-time but want hours again also fell from 9.8% (June) to 9.2% in July.

The focus was on job growth in the hospitality and leisure sectors, where the impact of the coronavirus was greatest. In julie, 380,000 jobs were added, especially in the hospitality industry. However, the number of jobs is still 1.7 million (10.3%) lower than in February 2020.

Employment rates also rose slightly. That is a good sign, because it means that the falling unemployment is not due to people who are no longer entering the labour market.

The stronger the US economy is, the faster the system of US central banks will reverse support. Now the Federal Reserve buys out $ 120 billion in bonds monthly. Last month, Fed Chairman Jay Powell opened the door to tighter monetary policy. After the publication of the report, the futures for Wall Street went into the red.

Commerzbank writes in a response that the strong job rate means that the Fed can start to tighten in the fourth quarter of the year.

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