Post by mhbruin on Aug 5, 2020 7:49:20 GMT -8
"The pace of U.S. private sector job growth slowed in July, perhaps as a result of the rising coronavirus infection rate. Private-sector employment rose 167,000 jobs in July, Automatic Data Processing Inc. reported Wednesday. The gain was well below forecasts from economists surveyed by Econoday who expected a gain of 1.9 million jobs. Job gains totaled 4.3 million in June and 3.3 million in May after a loss of 19.4 million in April, according to ADP data.
"The report is consistent with fears that the rebound is running out of steam, economists said. Analysts use the ADP data to get an indication of the Labor Department’s employment monthly report, which will be released Friday and covers government jobs in addition to the private sector.
Source
As Jared Kushner, who you can count on to be wrong about everything, said, "The economy will be rocking by July."
"The report is consistent with fears that the rebound is running out of steam, economists said. Analysts use the ADP data to get an indication of the Labor Department’s employment monthly report, which will be released Friday and covers government jobs in addition to the private sector.
Source
As Jared Kushner, who you can count on to be wrong about everything, said, "The economy will be rocking by July."
