U.S. adds 1.8M jobs in July, but still has 10% unemployment
WASHINGTON (AP) — The United States added 1.8 million jobs in July, a pullback from the gains of May and June and evidence that the resurgent coronavirus is weakening hiring and the economic rebound.
Many employers have been reluctant or unable to hire, with about two-thirds of the nation having paused or reversed reopening plans early last month. Even counting the hiring of the past three months, the economy has recovered only about 42% of the 22 million jobs it lost to the pandemic-induced recession, according to the Labor Department’s jobs report released Friday.
The unemployment rate fell last month from 11.1% to 10.2%, though that still exceeds the highest rate during the 2008-2009 Great Recession.
The acceleration of the viral outbreak that began in late June more than doubled the daily U.S. confirmed case count by mid-July. The rate of new reported cases has since declined. But the outbreaks have led many states and cities to close bars and other businesses for a second time and have dampened confidence, causing many consumers to limit their shopping, traveling, eating out and gathering in crowds.
July’s job gain was much lower than June’s 4.8 million and May’s 2.7 million jobs added, both of which were revised slightly.