American Employers Added 943,000 Jobs in July

Contact Your Elected Officials
The Epoch Times

Americaโ€™s private employers in July added 943,000 jobsโ€”a proxy for new hiresโ€”in a sign that the U.S. economy enjoyed a solid burst of job growth as the labor market recovery continues.

The Labor Departmentโ€™s jobs reportreleased Aug. 6, shows that nonfarm payroll employment rose by 943,000 in July, topping the 850,000 jobs U.S. employers added in June.

Ahead of the release, economistsโ€™ estimates varied widelyโ€”from 350,000 to as much as 1.6 million, according to a Reuters review of institutional forecasts.

Driving the uncertainty are the dynamics of the pandemic, particularly the spread of the Delta variant of the CCP virus, which the Centers for Disease Control and Prevention (CDC) considers more transmissible and potentially more resistant to vaccines.

But while the resurgence in COVID-19 infections poses a risk to economic recovery, thereโ€™s no sign yet of any significant impact.

โ€œWhile the Delta variant has sparked a rise in COVID cases, thereโ€™s scant indication this is translating to a measurable reduction in economic activity in the U.S. so far, suggesting little meaningful impact on employment,โ€ Bankrate senior economic analyst Mark Hamrick said in an emailed statement to The Epoch Times.

While economic output has fully bounced back to its pre-pandemic levels, the labor market recovery is trailing. After shedding over 22 million jobs in the first two months of the pandemic, the U.S. economy has since recovered nearly 17 million jobs.

The Labor Departmentโ€™s jobs report also showed that the unemployment rate dropped by 0.5 percentage points to 5.4 percent in July, while the total number of unemployed persons fell by 782,000 to 8.7 million.

While these measures are down considerably from their highs at the end of the Februaryโ€“April 2020 recession, they remain well above their pre-pandemic levels of 3.5 percent and 5.7 million in February 2020, the Labor Department said.

Byย Tom Ozimek

Read Full Article on TheEpochTimes.com

The Thinking Conservative
The Thinking Conservativehttps://www.thethinkingconservative.com/
The goal of THE THINKING CONSERVATIVE is to help us educate ourselves on conservative topics of importance to our freedom and our pursuit of happiness. We do this by sharing conservative opinions on all kinds of subjects, from all types of people, and all kinds of media, in a way that will challenge our perceptions and help us to make educated choices.

The Sacred Honor of the 56

Today we're celebrating the sacred honor of the 56 men who signed the Declaration of Independence.

Alligator Alcatraz: A Bold Step Toward Secure Borders

Alligator Alcatraz funded through FEMA, represents a decisive move by the Trump admin to address illegal immigration with efficiency and resolve.

Is America Broke?

Silicon Valley investor and economic commentator Balaji Srinivasan made...

Hungary: Prideโ„ข Cometh Before the Color Revolution

The EU engaged in a diplomatic siege of the Eastern European nation-state of Hungary pressuring it into embrace global trannyism or face wrath of Brussels.

Understanding the Trump/Musk Feud

The passion Trump and Musk exhibit over the OBBB is not contrived or for show. Each is addressing the problem from completely different approaches.

Noem Waives Environmental Restrictions to Fast-Track Water Barriers in Rio Grande

DHS Sec Kristi Noem waived federal environmental laws to fast-track construction of 17 miles of waterborne barriers in the Rio Grande in South Texas.

Federal Officials Warn of โ€˜Lone Wolfโ€™ Terror Threats on July 4, NY Governor Says

NY Gov. Kathy Hochul confirmed that federal officials informed her about a possible terrorist threat ahead of the July 4 Independence Day holiday.

Record 1 in 5 Buyers of New Cars Committing to $1,000-Plus Monthly Payments: Edmunds

The share of new car buyers committing to make monthly payments of $1,000 or more hit an โ€œall-time highโ€ in the second quarter of 2025.

US Economy Adds 147,000 New Jobs, Unemployment Rate Dips to 4.1 Percent in June

The U.S. job market remained strong in June, as labor conditions continued to hold up amid economic uncertainty.

US Keeps Pressure on Chinese Goods Amid Vietnam Trade Deal

Transshippingโ€”rerouting goods through a third country to disguise the origin of the productsโ€”is a focal point of trade negotiations with Asian markets.

White House Report Reveals Top Earners, Staffers Working for No Salary

The Trump admin released its yearly report that shows the salaries for White House staffers, also revealing officials who arenโ€™t accepting salaries at all.

Transportation Secretary Urges Governors to Remove Political Messages From Crosswalks, Intersections

Duffy sent letters to governors, mayor of D.C., and gov of Puerto Rico urging them to remove political messaging from intersections and crosswalks.

Bessent: US, India Near Agreement to Lower Tariffs

The United States and India are โ€œvery closeโ€ to a trade agreement, Treasury Secretary Scott Bessent said on Tuesday.
spot_img

Related Articles