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Business Headlines

US adds 1.8 million jobs in a sign that hiring has weakened

By Jennifer Grod
August 7, 2020

(200508) -- NEW YORK, May 8, 2020 (Xinhua) -- A pedestrian wearing a face mask walks past the New York State Department of Labor office in the Brooklyn borough of New York, the United States, on May 8, 2020. New data showed that U.S. employers cut a staggering 20.5 million jobs in April, erasing a decade of job gains since the global financial crisis and pushing the unemployment rate to a record 14.7 percent. While this marks the highest level of unemployment since the Great Depression, analysts said the figure does not capture the full scale of the COVID-19-induced job crisis, and the worst is yet to come. (Photo by Michael Nagle/Xinhua) (Photo by Xinhua/Sipa USA)

U.S.-NEW YORK-UNEMPLOYMENT-COVID-19-ECONOMY

WASHINGTON (AP) — The United States added 1.8 million jobs in July, a pullback from the gains of May and June and evidence that the resurgent coronavirus is slowing hiring and the economic rebound.

With confirmed viral cases still elevated in much of the nation and businesses under continued pressure, many employers appear reluctant or unable to hire.

Even counting the hiring of the past three months, the economy has now recovered only about 42% of the 22 million jobs it lost to the pandemic-induced recession, according to the Labor Department’s jobs report released Friday.

Boom!

Just released Jobs Report crushes expectations.

The #GreatAmericanComeback gains steam… pic.twitter.com/3WJomGyqVF

— Steve Cortes (@CortesSteve) August 7, 2020