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8/7, 2:30 PM (Source: TeleTrader)
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US nonfarm payrolls rise by 1.8M in July

Nonfarm employment in the United States rose by 1.8 million in July as the country continued to reopen following coronavirus lockdowns, the United States Bureau of Labor Statistics (BLS) said on Friday. Meanwhile, the unemployment rate decreased by 0.9 percentage points to 10.2%.

Both figures were better than analysts had expected.

The report stressed that the biggest increase in employment was observed in leisure and hospitality, government, retail trade, professional and business services, other services, and health care. Average hourly earnings in the private sector were up by 7 cents month-over-month to $29.39 in July.

Breaking the News / NP