The figures suggest that the labour market in the world's biggest economy is cooling although wage gains remain strong, adding to signs that officials can lower inflation without triggering a major recession.
Analysts have been warning of a downturn as the central bank lifted interest rates rapidly to ease demand and rein in cost-of-living pressures, recently bringing rates to the highest level since 2001. But hiring stayed solid as the United States added 187,000 jobs last month, slightly above the 185,000 figure in June which was revised downward, said the Department of Labor on Friday.
The jobless rate came in at 3.5 percent, a touch below June's 3.6 percent figure as well and remaining at a historically low level."This follows recent news that our economy continues to grow, while inflation has fallen by nearly two thirds and is at its lowest level in more than two years," Biden said. He added that the administration is lowering costs for families.
Overall,"job gains occurred in health care, social assistance, financial activities, and wholesale trade," said the Labor Department. The labour force participation rate held steady as well.