Solid jobs report exceeds expectations putting to rest doubts

Solid jobs report exceeds expectations putting to rest doubtsSolid jobs report exceeds expectations putting to rest doubtsSolid jobs report exceeds expectations putting to rest doubtsOn Friday, August 5, the Bureau of Labor Statistics released its monthly employment situation report for July, which is a widely used indicator for the health of the labor market. The July report continued to exceed job growth expectations putting to rest doubts of a weakening economy after a disappointing gain in May. The overall labor force further expanded as more people entered the workforce keeping the unemployment rate steady.Key TakeawaysU.S. adds 255,000 new jobs as companies continue to hire in July putting to rest doubts after weak gains in MayThe unemployment rate held at 4.9% as more people continued to entered the labor force in search of workThe labor force participation rate rose a tick in July to 62.8% from 62.7%The size of the labor force has increased by about 400,000 in the past five months2nd-quarter GDP expanded at a slightly faster 1.2% paceWant to know more about the top trends in the job market? Check out the US Labor Market Update from Intelligence.