The U.S. unemployment rate went down to 10.2% in July even with a new wave of virus cases and blue jurisdictions overreacting.
The Labor Department said in its Friday report that employers added 1.8 million jobs in July. In June, it was 4.8 million jobs, which was the highest recorded.
how can we log 1million new unemployment claims weekly for the last 20 weeks and only have 10% unemployment?
Greg
5 years ago
I seriously doubt many would consider this as “adding” jobs. Even worse, calling it record job growth. When jobs are cancelled “by” the Government it is disingenuous to claim record job growth. It would be more accurate to say “recovered” jobs. Those who are still unemployed, because of Government action, take little comfort in “records”. Any reasonable person would acknowledge… Read more »
how can we log 1million new unemployment claims weekly for the last 20 weeks and only have 10% unemployment?
I seriously doubt many would consider this as “adding” jobs. Even worse, calling it record job growth. When jobs are cancelled “by” the Government it is disingenuous to claim record job growth. It would be more accurate to say “recovered” jobs. Those who are still unemployed, because of Government action, take little comfort in “records”. Any reasonable person would acknowledge… Read more »