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July jobs report: US economy adds 1.8 million jobs, unemployment 10% - Business Insider - Business Insider

July jobs report: US economy adds 1.8 million jobs, unemployment 10% - Business Insider - Business Insider

July jobs report: US economy adds 1.8 million jobs, unemployment 10% - Business Insider - Business Insider
Aug 07, 2020 56 secs

The US economy added jobs for a third straight month in July, reflecting the nation's attempts to reopen and claw back from the devastating coronavirus recession.

American businesses added 1.8 million nonfarm payrolls during the month, according to the Bureau of Labor Statistics.

Employment ticked up across most industries and sectors, according to the Friday report.

Retail trade, professional and business services, healthcare, social assistance, manufacturing, and transportation jobs also gained in July.

Because these layoffs and furloughs happened earlier in the year because of the coronavirus pandemic, the July increases in local government education and state education were "unusually large," according to the report.

Permanent job losses were little changed from the previous month, standing at 2.9 million in July.

US employment still remains nearly 13 million below the February level, according to the report.

US consumer sentiment slipped as new COVID-19 cases spiked, and the Household Pulse Survey showed that employment fell by 4.1 million between July 9 and July 14, the reference week for the monthly jobs report.

A recent study estimated that the program saved 1.4 million to 3.2 million jobs through the first week of June

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