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U.S. Job Growth Accelerates in July, Low-Income Wage Growth Hits 5.2%, Bank of America Data Shows

2026-08-05 14:28:24

BAC-8.16%

According to Bank of America research based on its internal consumer deposit data, U.S. employment growth accelerated in July, with year-over-year job additions reaching 2% (unadjusted). Low-income households drove the job gains, recording after-tax wage growth of 5.2% (seasonally adjusted), marking the first time since December 2024 that this group's wage growth exceeded that of high-income households. The estimates are based on a three-month moving average of Bank of America's aggregated and anonymized deposit data.

Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.

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