National Unemployment Rate Drops In July

U.S. Labor Department reports more than a million jobs were added to the economy in July.

Posted: Aug 7, 2020 7:43 AM
Updated: Aug 7, 2020 11:58 AM

The economy continues its climb back up since the start of the COVID pandemic.

Friday morning, the Labor Deparment announced that more that 1.7-million jobs were added nationwide last month.  The allowed the unemployment rate to fall from 11.1 percent in June to 10.2 percent in July.

The number of jobs added was projected by economists to be 300,000 less than what was reported by the Labor Department.

The peak of the unemployment was at 14.7 percent in April, at the start of the pandemic when businesses started shutting their doors nationwide.

The unemployment number is still far above the 3.5 percent rate that was in February before the pandemic.

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