US Economy Added 1.8 Million Jobs in July, Still Down Nearly 13 Million

US Economy Added 1.8 Million Jobs in July, Still Down Nearly 13 Million The number is a stark decline from the 4.8 million jobs added in June, with the economy remaining down 12.9 million jobs.

The unemployment rate fell to 10.2%, though that is still above the Great Recession high of 10%.

This is the third consecutive month of improvement since the beginning of the lockdown.

The reopening of the economy and subsequent resurgence in COVID-19 case numbers has contributed to the unstable job market.

A survey conducted by Cornell University found that 31% of workers who had been rehired lost their job a second time during the pandemic.