The U.S. economy added 1.8 million jobs in July even as a wave of new coronavirus cases forced most states to pause or reverse their reopenings. The payroll increase reported Friday by the Labor Department was nonetheless well below the 4.8 million jobs created in June, the highest ever recorded. The unemployment rate fell to 10.2%, down from 11.1% in June.
H/T: Fox Business
“We have seen a very troubling increase in COVID-19 cases in many states that had reopened for business, but we continue to be cautiously optimistic that the overall U.S. economy has turned a corner, and that the solid job gains announced today will be sustained," said Tony Bedikian, managing director of Citizens Bank.
July Jobs Report – 1.8 Million Jobs Recovered… https://t.co/abFC5TOaAS— TheLastRefuge (@TheLastRefuge2) August 7, 2020
July jobs report shows gain of 1.8 million, unemployment rate falls | Just The News https://t.co/MriQS7CNp7— John Solomon (@jsolomonReports) August 7, 2020
1.8 million jobs created in July thanks to President Trump's leadership!— Trump War Room - Text TRUMP to 88022 (@TrumpWarRoom) August 7, 2020
That's THREE TIMES bigger than any month in Joe Biden's "recovery." pic.twitter.com/S9iC0nTVSs
JULY JOBS REPORT:— Team Trump (Text TRUMP to 88022) (@TeamTrump) August 7, 2020
✅ 1.8 MILLION jobs created
✅ Unemployment dropped again
RENEW, RESTORE, REBUILD! 🇺🇸
Today's U.S. jobs report shows that hiring is weakening. It suggests continued high unemployment and reduced household incomes through the November election. Most experts are warning of a slow economic recovery. https://t.co/reDnZhP16v— The Associated Press (@AP) August 7, 2020
“We’re headed in the right direction!”— Ronna McDaniel (@GOPChairwoman) August 7, 2020
July’s jobs report shows the Great American Comeback is under way!
+1.8 MILLION jobs, beating expectations!pic.twitter.com/IoMaEusVGJ
WATCH: @larry_kudlow tells reporters he sees today's #JobsReport numbers as a sign that #unemployment could drop to single-digits before November.— Face The Nation (@FaceTheNation) August 7, 2020
The unemployment rate dropped from 11.1% to 10.2% in Julyhttps://t.co/nNZwoiFoKe pic.twitter.com/9GR9kZXADb
The unemployment rate in July has once again beat expectations, falling to 10.2%. The American economy is on the road to recovery and Americans are ready to get back to work. Read more about today's #JobsDay report here: https://t.co/EFvgb3v6Vw— CEA (@WhiteHouseCEA) August 7, 2020