Julie Su, nominee to serve as Secretary of Labor, arrives for her confirmation hearing in the Senate Health Education Labor & Pensions Committee on Thursday, April 20, 2023.
WASHINGTON — 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.
She also touted the "very high labor force participation rate, especially among prime-age workers aged 25 to 54."
Persons:
Julie Su, WASHINGTON —, Su, CNBC's
Organizations:
Labor, Health Education Labor, Pensions, WASHINGTON
Locations:
WASHINGTON — The U.S, U.S