US Economy Added 1.8 Million Jobs in July, Still Down Nearly 13 Million

US Economy Added 1.8 Million Jobs in July, Still Down Nearly 13 Million

US Economy Added 1.8 Million Jobs in July, Still Down Nearly 13 Million The number is a stark decline from the 4.8 million jobs added in June, with the economy remaining down 12.9 million jobs.

The unemployment rate fell to 10.2%, though that is still above the Great Recession high of 10%.

This is the third consecutive month of improvement since the beginning of the lockdown.

The reopening of the economy and subsequent resurgence in COVID-19 case numbers has contributed to the unstable job market.

A survey conducted by Cornell University found that 31% of workers who had been rehired lost their job a second time during the pandemic.