The jobs report for July showed a jump of 528,000 jobs with the unemployment rate dropping to 3.5%, according to the Bureau of Labor Statistics. The agency said that both total non-farm employment and the unemployment rate are back to pre-pandemic levels of February 2020.

Employment keeps surprising to the upside. The June report, which came out in early July, showed a number of new jobs that was 49% higher than expectations. This new report made that look like people were sitting around on their hands.

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