Employment stats released by the U.S. Bureau of Labor Statistics showed a promising increase in employment in July. The total non-farm payroll reported an increase of 1.8 million jobs (which accounts for a 0.9% decrease in unemployment).

There were notable gains in month over month employment for leisure and hospitality, government, retail trade, professional and business services, other services and health care.

  • Construction: +20,000 jobs
  • Durable Goods: +15,000 jobs
  • Food Manufacturing: +11,000 jobs
  • Manufacturing: +26,000 jobs
  • Paper and Printing: +2,700 jobs
  • Trade and Utilities: +291,000 jobs
  • Transportation and Warehousing: +37,900 jobs

We are beginning to see a steady decrease in unemployment providing many with hope that they will return to work after COVID-19. Comparing stats year-over-year we can see a long way to go.

Unemployment by Month

  • July 2019: 3.7%
  • May 2020: 13.3%
  • June 2020: 11.1%
  • July 2020: 10.2% (-0.9%)

It is however important to note that 1.8 million net new jobs were not created, many simply returned to work.

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