U.S. employment slowly improving
by Kyle Ziemnick
Posted 8/07/20, 12:42 pm
WASHINGTON—The U.S. economy picked up 1.8 million jobs in July, the Department of Labor reported on Friday. Employment collapsed in April as states locked down in response to the coronavirus pandemic, with a loss of more than 20 million jobs. Growth slowed some in July compared to May and June, when U.S. businesses added about 5 million and 3 million jobs, respectively. “Until the virus is under control, a full and sustained recovery will remain out of reach,” said Nick Bunker, the economic research director at the recruiting website Indeed.
Are fewer people unemployed? The number has fallen every month since April, but there are still three times as many Americans out of work as there were before the pandemic began. The unemployment rate dropped to about 10 percent in July from 11.1 percent the month before. Economists believe August and September numbers will show even more of a rebound from the disaster of March and April.
Dig deeper: Read Harvest Prude’s report in The Stew on congressional haggling over a coronavirus stimulus package.
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