Midwest Institutions Launch Semiconductor Network

The U.S. labor market remained strong in July, as nonfarm payrolls increased by 528,000 during the month, marking the 19th consecutive month of expansion. The unemployment rate fell to 3.5%, down from 3.6% and is the lowest level since February 2020.  Total job openings fell 5.4% to 10.7M in June. Hires also slowed during the month, falling 2% to 6.37M, while quits remained little changed at 4.2M. Weekly jobless claims rose to 260,000 for the week ended July 30, and continuing claims rose 48,000 from the prior week to 1.42M.

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