Economy Gains 1.8 Million Jobs in June; Unemployment Declines to 10.2%

Economy Gains 1.8 Million Jobs in June; Unemployment Declines to 10.2%

The U.S. economy gained 1.8 million jobs in July, and the unemployment rate declined to 10.2%, according to figures released Friday morning by the U.S. Bureau of Labor Statistics. The improvements reflect the continued resumption of economic activity that previously was curtailed because of the COVID-19 pandemic.

In response to the July job numbers, AFL-CIO Chief Economist William Spriggs tweeted:

Last month’s biggest job gains were in leisure and hospitality (+592,000), government (301,000), retail trade (258,000), professional and business services (170,000), other services (149,000), health care (126,000), social assistance (66,000), transportation and warehousing (38,000), manufacturing (26,000), financial activities (21,000) and construction (20,000). Mining lost 7,000 jobs in July.

In July, the unemployment rates declined for teenagers (19.3%), Black Americans (14.6%), Hispanics (12.9%), Asians (12.0%), adult women (10.5%), adult men (9.4%) and White Americans (9.2%).

The number of long-term unemployed workers (those jobless for 27 weeks or more) was little changed in July.

Kenneth Quinnell
Fri, 08/07/2020 – 11:30

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Updated: August 16, 2020 — 8:13 pm