Julie Su, acting secretary of the Labor Department, said the July jobs report indicate steady growth under the Biden administration.
The U.S. economy saw the smallest jobs increase in July since December 2020, but Acting Labor Secretary Julie Su said the number reflects what experts increasingly believe see as a « soft landing » for the U.S. economy.
Nonfarm payrolls increased by 187,000 last month, slightly below expectations, and the unemployment rate fell slightly to 3.5%.
« This is an example of what slow and steady growth looks like, » Su told CNBC’s « Squawk on the Street » on Friday.
