Construction workers help direct traffic outside a residential and commercial building under construction at the Essex Crossing development on the Lower East Side of Manhattan, Thursday, Aug. 4, 2022. On Friday, Aug. 5, the Labor Department delivers its July jobs report. (AP Photo/Mary Altaffer)
By PAUL WISEMAN AP Economics Writer
WASHINGTON (AP) — America’s hiring boom continued last month as employers added a surprising 528,000 jobs despite raging inflation and rising anxiety about a recession. July’s hiring was up from 398,000 in June. The unemployment rate slipped to 3.5%. The U.S. economy shrank in the first two quarters of 2022 — an informal definition of recession. But most economists believe the strong jobs market has kept the economy from slipping into a downturn. The American job market has repeatedly defied skeptics this year. Economists had expected only 250,000 new jobs this month.