U.S. Adds 943,000 Jobs in July as Unemployment Shrinks Despite Delta Fears
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The U.S. added 943,000 jobs in July, continuing a streak of job growth as the Delta variant risks dampening the country’s economic recovery. The Labor Department, which collected the data weeks before the variant began forcing masks on and delaying returns to offices, also said the unemployment rate dropped from 5.9 percent to 5.4 percent, signaling a better-than-expected forecast for analysts. Most jobs were in public education, with more teachers kept on the payroll than in the past. Entertainment and hospitality also reported about 380,000 jobs, reversing some of their losses due to the pandemic. The government also revised June’s job numbers from 850,000 to 938,000.
It remains to be seen if that streak will continue, as fears of the Delta variant running rampant risk causing an early sunset to a summer of traveling and dining out. “It’s been a sprint in terms of growth, but we may be moving into more of a marathon,” economist Scott Anderson told The New York Times. “Travel season is winding down, and the Delta variant is a big concern.”