November 17, 2021
Economy

U.S. economy added 943,000 jobs in July, unemployment rate falls to 5.4%

WASHINGTON — Hiring surged in July as American employers added 943,000 jobs.

Despite an uptick in COVID-19 cases due to the spread of the delta variant, the unemployment rate dropped to 5.4% as the U.S. economy continues to bounce back with surprising vigor from last year’s coronavirus shutdown.

The July numbers exceeded economists’ forecast for more than 860,000 new jobs.

The rosy numbers may have been buoyed by seasonal work, as hotels and restaurants added 327,000 jobs as they continue to recover from lockdown restrictions. In addition, local public schools added 221,000 jobs as they hire workers for the upcoming school year.

The number of people who reported they had jobs surged by 1 million, pushing the jobless rate down from 5.9% in June.

The U.S. economy lost 22 million jobs in March and April of 2020 as the start of the pandemic resulted in nationwide shutdowns. As of last…

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