The July job gains in President Trump’s economy are 3X bigger than ANY month in Joe Biden’s abysmal “recovery.”
AMERICA IS GOING BACK TO WORK – The U.S. economy added 1.8 million jobs in July, while unemployment fell to 10.2%, according to Department of Labor data released Friday. Total non-farm payroll employment rose by 1.8 million in July, according to the Bureau of Labor Statistics report, and the number of unemployed persons fell by 1.4 million to 16.3 million.
“In July, notable job gains occurred in leisure and hospitality, government, retail trade, professional and business services, other services, and health care,” the report adds. The new number suggests that economic recovery from the China-virus has slowed, amid a recent resurgence of the virus, which became a worldwide pandemic in March.
In June, the U.S. added 4.8 million jobs, while the unemployment declined to 11.1%. The June numbers marked the second month of both increasing jobs and dropping unemployment since the country lost a record 20.5 million jobs due to the coronavirus pandemic closures.
Earlier this week, President Trump touted the vastly improved manufacturing numbers in July’s ISM report, as well as a decrease in the numbers of first-time filers for unemployment insurance this week. On Friday morning, President Trump tweeted, “Great Job Numbers!” Economists predicted that the economy would add only 1.6 million jobs in July, according to CNN, dragging the monthly unemployment rate down to 10.5% in July.
Meanwhile, in Congress, efforts to negotiate a deal for a fourth coronavirus relief package are stalling out after hours and hours of only minimally productive meetings between Democratic leadership, top Republicans, and White House negotiators this week. Members left town yesterday and are not expected to return next week.
The White House has been busy preparing a series of executive orders that could provide solutions to especially pressing problems, including the enhanced unemployment checks that many Americans are missing this week, and protection from eviction. The executive orders could take place as soon as this afternoon.