Jump to content

July 2020 jobs report shows major slowing, 10.2% unemployment, 1.8 million jobs (down from 4+ mil in June) with most improvements came from late June before dying in July

Recommended Posts

That increases pressure on lawmakers to reach agreement on a new round of pandemic relief. Supplemental unemployment benefits of $600 per week expired at the end of July. Economists warn that without some additional help for the unemployed, the country could sink into an even deeper recession.



Friday's report showed significant job gains in restaurants, retail, health care and local government. Restaurant jobs accounted for more than a quarter of the total increase, although employment in the industry is still well below pre-pandemic levels.


Forecasters said the reported gain in local government jobs may have been artificially inflated by seasonal adjustments. Ordinarily, many school employees drop off the job rolls in July before being rehired in the fall and government statisticians try to adjust for that. This year, those layoffs came earlier in the school year, so the July adjustment may have over-compensated.


Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

  • Recently Browsing   0 members

    • No registered users viewing this page.
  • Create New...