Wall Street

Surprise US job surge lifts employment back to pre-Covid levels

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The Bangkok Post

WASHINGTON: The US jobs market grew much faster than expected in July, lifting employment back to pre-pandemic levels, in news welcomed by President Joe Biden as he faces tough midterm elections — but which also fuels concerns over sky-high inflation. Even the White House had predicted job gains would slow last month, which Biden had said was part of the natural downshift after the rapid rebound of the world’s largest economy from the pandemic downturn. Instead, US job growth jumped in July, as the economy added a surprising 528,000 positions, more than double what economists were expecting, a…

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