Long Road To Recovery: Hiring Slows In July, As U.S. Employers Add 1.8 Million Jobs
U.S. employers added 1.8 million jobs last month, as the unemployment rate dipped to 10.2%.
The pace of hiring slowed from June, when employers added a record 4.8 million jobs. That suggests a long road back to full employment for the tens of millions of people who have been laid off during the coronavirus pandemic.
"There are still a lot of people on the sidelines," said Sarah House, a senior economist at Wells Fargo Securities. "That's going to have a big impact on what we see in terms of consumer...