Jobs report shows weakening in the U.S. economy

Jobs report shows weakening in the U.S. economy

Jobs report shows weakening in the U.S. economy

By the Associated Press:

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 has weakened hiring and the economic rebound.

At any other time, hiring at that level would be seen as a blowout gain. But after employers shed a staggering 22 million jobs in March and April, much larger increases are needed to heal the job market.

The hiring of the past three months has recovered only 42% of the jobs lost to the pandemic-induced recession. Until the health crisis is solved through a vaccine or an effective treatment, most experts say the economy will struggle to sustain any recovery.

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