Washington - (AFP) - The labor market in the United States witnessed dynamism on an unexpected level, restoring to pre-pandemic levels at a time when it was feared that the measures taken against inflation would cause an economic recession, in good news that President Joe Biden praised.

The unemployment rate and the total number of jobs in the country have returned to the level of February 2020, before the Covid-19 pandemic dealt a severe blow to the economy.

The unemployment rate decreased by 0.1 point to 3.5%, as it was in February 2020 when it fell to its lowest level in fifty years, according to what the Ministry of Labor revealed.

US President Joe Biden praised "the progress made for working families."

"More people are working than ever before... which provides dignity and peace of mind to millions of families thanks to the wages they receive," he said in a statement.

He emphasized that this result is "the fruit of my economic plan. I ran into the presidency to advance the middle class."

528,000 jobs were created, twice more than expected.

The Ministry of Labor stated in its statement that "the growth of work included all sectors, driven by new opportunities in the fields of entertainment, hotels, professional and commercial services, and health care."

Job creation between May and June was more than expected, by 386,000 and 398,000 respectively, 28,000 more jobs than expected.

The eye is currently on the labor market in the United States, as its deterioration leads to measures to contain inflation and may herald an imminent economic recession.

The US economy has contracted over the last two quarters.

However, several economists and the White House administration assert that it has not yet entered a recession.

The Federal Reserve is working to curb the rise in prices, which reached 9.1 percent in a year in June, a record level not recorded since 1981. The Central Bank raises key interest rates, which affects commercial banks in the interest rates they offer to customers willing to borrow. the money.

If interest rates on loans rise, purchases and corporate investments will decline and pressure on prices will decrease. However, this induced slowdown could cause an economic recession.