The US economy added another 1.8 million jobs in July, a sharp slowdown from June and a small step for an economy that’s still down 12.9 million jobs during the pandemic.
It was the third-straight month of improvement after the spring lockdown that decimated the labor market. But the economy last month added far fewer than the 4.8 million jobs that America added in June.
The unemployment rate fell to 10.2%, the Bureau of Labor Statistics reported Friday, but remains above the Great Recession high of 10% that was reached in October 2009.
Fox Business Contributor, Scott “the Cow Guy” Shellady, on the July unemployment numbers: