U.S. Economy Added 943,000 Jobs in July, Unemployment Rate Fell to 5.4%

8/9/21
 
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from The Wall Street Journal,
8/6/21:

Robust job growth last month reflects a strong labor market ahead of the Delta variant threat.

A strengthening U.S. labor market added cushion to the economic recovery in July ahead of the surge in cases of the coronavirus’s Delta variant, with employers creating jobs at the best pace in nearly a year and the unemployment rate falling sharply.

Nonfarm payrolls rose by a seasonally adjusted 943,000 in July, the best gain in 11 months, the Labor Department said Friday.

The unemployment rate, derived from a separate survey of households, fell to 5.4% last month from 5.9% in June to touch the lowest level since the pandemic took hold in the U.S. in March 2020.

Friday’s report shows that the U.S. economy is facing any threat posed by the Delta variant with a strong tailwind.

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