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Economy added 1.8M jobs in July, unemployment at 10.2%
« on: August 07, 2020, 08:51:27 AM »
Economy added 1.8M jobs in July, unemployment at 10.2%
by Jay Heflin, Business Editor |
 | August 07, 2020 08:30 AM

The economy gained 1.8 million jobs in July, lowering the unemployment rate to 10.2%, the Labor Department reported on Friday, as robust jobs growth has apparently slowed.

Forecasters expected about 1.5 million jobs to be added.

Before the pandemic, creating over a million new jobs in a single month would have been historic. In fact, the federal government, which began tracking jobs in 1947, never recorded a gain or loss of a million jobs in a single month until this year.

But with a staggering 22.1 million jobs lost in March and April and 5 million jobs created in May and June, July’s jobs number is anemic and supports the notion that hiring has stalled.

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https://www.washingtonexaminer.com/news/economy-added-1-8m-jobs-in-july-unemployment-at-10-2
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Re: Economy added 1.8M jobs in July, unemployment at 10.2%
« Reply #1 on: August 07, 2020, 10:29:38 AM »
The numbers were better than anticipated. Economists had forecast an addition of around 1.5 million jobs and a decline in the unemployment rate to 10.6 percent from 11.1 percent last week.

The economy has added around 9.1 million jobs in the past three months. The increase in the ranks of employed workers shows that companies ramped up hiring as the economy reopened and consumers came back to stores, restaurants, and other businesses that had been shuttered in March and April. Despite the gains, employment in July was lower than its February level by 12.9 million, or 8.4 percent

The largest employment increases in July occurred in leisure and hospitality, government, retail trade, professional and business services, other services, and health care, the Bureau of Labor Statistics said in its monthly report on the employment situation in the U.S.

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https://www.breitbart.com/economy/2020/08/07/u-s-economy-adds-1-8-million-jobs-in-july-unemployment-rate-fall-to-10-2/#
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