General World News

The July jobs report was a smashing success, but don’t cut short all stimulus efforts while Delta is raging, former top Obama economist says


Summary List Placement

The economy added 943,000 jobs in July, smashing past forecasters’ estimates and underscoring the strength of the recovery from the pandemic.

Experts noted key gauges of economic health moved in the right direction: The unemployment rate fell, particularly among Black and Hispanic workers. Wages rose while the long-term unemployment rate dropped.

“This is probably the best jobs report that I’ve seen,” Jason Furman, former chief economist to President Barack Obama, said in an interview. 

Yet Furman acknowledged that the US economy remains 7.5 million jobs below pre-pandemic levels, and the Delta variant of the coronavirus threatens to details ⇒

BusinessMediaguide.Com portal received this content from this noted web source: BusinessInsider.Com