The state of the US labor market has deteriorated in July, with the unemployment rate of 4.2%, according to official data published today, which show a sharp decline in the number of jobs created in recent months. The first global economy created 73,000 jobs in July, less than analysts expected, according to the monthly report by the Ministry of Labor. Mostly, the creation of jobs in May and June was revised downwards. Customized data (19,000 in May and 14,000 in June) are therefore the lowest of the Covid-19 pandemic. The revisions are “much higher than normal levels”, as noted. These are 258,000 new jobs lost in statistics in the last two months. The creation of jobs focuses on a reduced number of sectors (health and social services), while jobs continue to be lost at the federal state level, in agreement with the wishes of the Republican Government. The unemployment rate […]
Source: News Beast
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