Mises Wire
Author:
Jon Wolfenbarger
Online Publish Date:
The Biden administration, the Fed, and Wall Street all cheered the July employment report on Friday, which stated that total nonfarm payrolls rose by 943,000—8.4 percent better than expectations of 870,000 —and the unemployment rate fell 0.5 percent to 5.4 percent in July. They also upwardly revised the prior two months by 119,000 jobs. Rising