US economy beats forecasts, adds 1.8 million jobs in July as unemployment rate declines to 10%

Reuters

• The US Bureau of Labor Statistics on Friday said the US added 1.8 million jobs in June. That exceeded the 1.5 million payroll additions expected by economists surveyed by Bloomberg.
• The report marks the third straight month of job gains since the US saw record payroll losses in April amid fallout from the coronavirus pandemic.
• The BLS also said the US unemployment rate was 10.2% in July, down from 11.1% in June.
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The US economy added jobs for a third straight month in July the nation attempts to reopen and claw back from the devastating coronavirus recession.

American businesses added 1.8 million nonfarm payrolls during the month, according to the Bureau of Labor Statistics. That exceeded the 1.5 million payroll additions expected by economists surveyed by Bloomberg.

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See Also:

• US weekly jobless claims hit 1.2 million, fewer filings than economists expected
• Roughly 5.4 million Americans will struggle to pay bills this month without the extra $600 weekly unemployment benefit, survey finds
• US companies added 167,000 in July, badly missing economist forecasts, ADP says

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