The U.S. economy added nearly a million jobs in July – a strong sign that the labor market is recovering.
According to the Bureau of Labor Statistic, 943,000 jobs were added – the largest one-month spike since last August. The unemployment rate dropped to 5.4%. Overall, the economy has regained more than 16 million jobs since last May – but remains below pre-pandemic levels by roughly 5.7 million jobs.
Will the U.S. economy be fully recovered by the end of the year? Or will the Delta variant cause another lockdown?