With the global economy slowing down because of the pandemic and the lockdowns, the unemployment rate in the United States of America has dropped to 5.4 percent in July. This comes amidst the recent surge in the Covid 19 cases.
July Noted Major Job Opportunities In Local Government Education, Hospitality
As per the latest reports, in June the data followed an upward direction with the job growth of 938,000 and then revised an increase of 614,000 in May. The report was released by the Department’s Bureau of Labour Statistics on Friday.
In July, the job gains were mainly in the leisure and hospitality along with local government education and in professional and business services.
ALSO READ: Australia’s unemployment rate falls to 5.1%
Furthermore, the employment in leisure and hospitality saw an increase by 380,000. And two-thirds of the job gain were noted in the food services and drinking places. The report further noted that the figure was down by 1.7 million or 10.3 percent since its pre-pandemic level.
The unemployment rate fell by 0.5 percent to 5.4 percent after a sudden rise by 0.1 percent to 5.9 percent in the previous month. The measure was said to be down significantly from its recent high in April 2020 but remained mainly above the pre-pandemic level of 3.5 percent.
1.2 Million People In July Were Layoff Temporarily
The reports released suggested that the number of unemployed persons decreased by 782,000 to 8.7 million. But it was well above the pre-pandemic level of 5.7 million. Amongst the unemployed, the number of persons temporary layoff fell by 572,000 to 1.2 million in July.
Meanwhile, the number of permanent of job losers were declined by 257,000 to 2.9 million in July this year which was 1.6 million higher than in February from last year.
