US hiring slows in July after coronavirus outbreak intensifies and economy faces worst decline on record

The July jobs report showed a slowing recovery from the historic losses suffered during the coronavirus pandemic, with just 1.7 million jobs added throughout the month compared to June’s staggering rebound of 4.7 million jobs.

The unemployment rate fell to 10.2 percent — a less than one percent drop — as Covid-19 outbreaks intensified across the country, forcing businesses to once again shutdown or offer restricted hours and services with less staff.

At least 22 million jobs were lost during the initial months of the outbreak in the US, as governors across the country implemented strict lockdown orders requiring millions of businesses and venues to close.

Independent / Balkantimes.press

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