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August 07, 2020

Unexpectedly, The US Economy Adds Nearly 1.8 Million Jobs in July

The unemployment rate fell from 13% to 10.2%.

The U.S. economy added nearly 2 million jobs during July, the Labor Department said in its monthly report Friday.
The widely-anticipated assessment said 1.8 million payrolls were added for the month. The unemployment rate declined to 10.2%, it added.

...

The assessment showed that the number of unemployed persons in the United States fell by 1.4 million last month.

Most economists expected an addition of about 1.5 million. The range varied, but most analysts agreed in their projections that the pace of hiring would slow in July.

Just a couple of days ago, the leftwing media was crowing that Moody's Analytics estimated that a mere 167,000 jobs were added in July.

The U.S. economy added 167,000 workers during the month of July, ADP and Moody's Analytics said Wednesday in its monthly preview of the government jobs report.

Whoops!

Whoopsie!

Ooooh! Wildly underestimating the July job growth figures is TIGHT!

posted by Ace at 12:59 PM

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The widely-anticipated assessment said 1.8 million payrolls were added for the month. The unemployment rate declined to 10.2%, it added. ... The assessment showed that the number of unemployed persons in the United States fell by 1.4 million last month. Most economists expected an addition of about 1.5 million. The range varied, but most analysts agreed in their projections that the pace of hiring would slow in July. Just a couple of days ago, the leftwing media was crowing that Moody's Analytics estimated that a mere 167,000 jobs were added in July. The U.S. economy added 167,000 workers during the month of July, ADP and Moody's Analytics said Wednesday in its monthly preview of the government jobs report. Whoops! Whoopsie! Ooooh! 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