July Jobs Report Shows Continued Economic Recovery

Last week, the Department of Labor announced that the United States added 1.8 million jobs in July, and saw the unemployment rate fall off of record highs down to 10.2 percent.  This latest report shows that our economy is continuing to recover from the height of the impact of COVID-19.  The gain in jobs is particularly good news considering that several states have begun to implement additional lockdowns and restrictions on businesses which will further damage those states’ economies. This positive jobs report comes just a week after the number of Americans applying for unemployment fell to the lowest number since the pandemic started.  More than 9 million jobs have been added in the past three months, including in many of the hardest hit sectors like manufacturing and the restaurant and service industries. As our economy continues to reopen and we continue to work together to combat this pandemic, I am hopeful that we will see even stronger numbers in the coming months.