this week alone, it s at a 50-year low. wait did was bolster the white house s argument that the economy is not heading into a recession. you heard them making that argument throughout the last couple of weeks, that because the jobs market was so strong, the economy wasn t headed toward a recession, despite negative growth and high inflation. this really lends fuel to that argument. you did hear president biden come out yesterday to the blue room balcony and kind of take a victory lap. listen to what he said. we re almost at 10 million jobs, 10 million jobs since i took office. that s the fastest job growth in history. today there are more people working in america than before the pandemic began. in fact, there are more people working in america than at any point in american history. now, the president also mentioned in there that there
protein bars, whatever you need. we ll have to send some up there. it s going to be a long couple of days ahead at chapitol hill. jobs were added in july defying fears the economy had entered into recession. we re almost at 10 million jobs. almost 10 million jobs since i took office. that s the fastest job growth in history. today there are more people working in america than before the pandemic began. in fact, there are more people working in america than at any point in american history. cnn s matt egan breaks down those numbers. amara and phil, the american economy just hit a huge milestone, one that should quiet those recession fears, for now at least. in a huge surprise, hiring ramped up to 28,000 jobs in july. not only has that doubled the
administration. cnn s jeremy diamond explains. today we received another outstanding jobs report. reporter: tonight president biden hailing another strong jobs report and promising more relief to americans struggling with stubbornly high prices. today there are more people working in america than before the pandemic began. in fact, there are more people working in america than at any point in american history. reporter: the unemployment rate dipping to 3.5% as the economy added 528,000 jobs last month bucking expectations and tampering down fears of a recession. but a strong jobs report will do little to beat back inflation, americans number one concern. i know people will hear today s extraordinary jobs report and say they don t see it, they don t feel it in their own lives. i know how hard it is. i know how hard it is to feel good about job creation when you already have a job and you re dealing with rising prices, food and gas and so much more.
beijing has stopped cooperation with the u.s. on military operations and climate change. meanwhile, russia indicates it is ready to discuss a prisoner swap, one day after a court sentenced brittney griner to nine years in prison. we begin with the increasingly complicated state of the u.s. economy, after a string of not so great data on economic growth, inflation, and consumer sentiment. a sign that things may not be as bad as many think. the government says employers added 528,000 jobs in july, more than double what experts had predicted. the unemployment rate fell slightly to 3.5%, and when you break down that number, the numbers fell for minorities. president biden state more people are working than at any point in american history.
we re almost at 10 million jobs, almost at 10 million jobs since i took office. that s the fastest job growth in history. today there are more people working in america than before the pandemic began. in fact, there are more people working in america than at any point in american history. cnn business correspondent rahel solomon joins me now. put this into context. what do these numbers actually mean? not only did these numbers surprise to the upside, but it was broad based across the economy. when you look at the report line after line, industry after industry saw positive job growth. leisure and hospitality the strongest with 96,000 added for the month of july. professional services, health care, government, all adding jobs. we know wages increased about 5.2% over the last year and wage gains are something the fed is going to be watching closely as it tries to fight inflation. more on that in just a moment.