08/06/2021

In July, The Labor Market Recovery Boomed

The U.S. economy added 943,000 jobs

The U.S. economy added 943,000 jobs in July as hiring surged and employers raised wages to lure workers. It marked the second straight month of impressive growth as the country’s recovery sped up amid widespread availability of vaccines.

But the renewed strength of the coronavirus in late July and early August is raising concerns about whether this momentum can continue. The delta variant has sped through the country’s vaccine-resistant population in recent weeks, leading to new government restrictions.

This has clouded many economist’s outlook for the second half of the year and raised questions about whether July could serve as a high-water mark of the recovery’s second wave.

Please select this link to read the complete article from The Washington Post.