A sort of Labour Department report Last Friday showed that at about the same time, there were indeed 8.7 million unemployed job-seekers on the job site It is estimated that there are approximately 9.8 million job vacancies, Indicating that the job market is booming as the country reopens during the pandemic.
The economy added 943,000 jobs in July, marking its best monthly performance since August 2020. The unemployment rate has rebounded strongly from 14.8% in April 2020 to 5.4%.
The US Department of Labor said that US employers added 943,000 jobs in July, exceeding the expected increase of 870,000 jobs, and government bond yields rose on Friday. https://t.co/WhHDcjx4rU
— DealBook (@dealbook) August 6, 2021
The economy created 4.3 million jobs in 2021. These figures are a big victory for the Biden administration, which promoted the US rescue plan and the US employment plan paid for by the US-made tax plan.
“Since we took office, more than 4 million jobs have been created. This is historic-proof that our economic plan is working,” President Joe Biden wrote on Twitter.
Fox News reluctantly praised today’s awesome employment report. Turn this song up. pic.twitter.com/xt3fEuYa88
— Aaron Rupar (atrupar) August 6, 2021
Employment growth in the hotel industry and the loading and storage industry was strong.
Millions of Americans have already withdrawn from the labor market, but the ever-improving labor market may attract them back. Companies large and small are encouraging new job openings.
E-commerce giant Amazon recently raised the minimum wage and provided incentives for new employees.
Amazon CFO Brian Olsavsky told reporters on a conference call in July: “Of course we see stronger demand for workers.” “So far, we are hiring them. We have achieved great success in this regard, and our wages and benefits are very competitive. So we are watching it carefully. But this may be one of the bigger factors of inflation in our business at the moment.”
Convenience store chain Wawa announced in May that it plans to hire thousands of employees, while also offering new employees a $500 bonus.
I haven’t found any flaws in this job report. I have never seen such a wonderful set of economic data:
– Employment growth in most industries
–Unemployment rate dropped sharply, Black & Hispanic/Latino
——Redn who has been unemployed for a long time
–Stable (nominal) wage growth
— Jason Furman (@jasonfurman) August 6, 2021
