Sunday, 22nd December 2024

US adds 1.8 million jobs in July, unemployment rate falls to 10.2%: Govt

Saturday, 8th August 2020

According to the govt. Data released on Friday, The US economy added just 1.8 million jobs in July, far limited than in May and June but not as bad as some economists worried.

The unemployment rate drops to 10.2 per cent from 11.1 per cent in June, still barely worse than the midst of the global financial crisis in October 2009.

Though the Labor Department said some workers continue to be misclassified, and the jobless rate would have been a full point higher than reported.

The report said that the largest employment increases were in leisure and hospitality and retail, the sectors hardest hit by the coronavirus shutdowns.