Recovery continues: the US economy builds up a surprising number of Places

the unemployment rate in July dropped from 11.1 to 10.2 percent, and therefore even a bit stronger than expected. At the same time 1.76 million new jobs were ad

Recovery continues: the US economy builds up a surprising number of Places

the unemployment rate in July dropped from 11.1 to 10.2 percent, and therefore even a bit stronger than expected. At the same time 1.76 million new jobs were added outside of agriculture, after a record-high loss of jobs from 20.7 million in April. This was the strongest decline since the beginning of the surveys in the year 1939. Were expected to be only about 1.6 million new jobs created for the month of July.

However, the past two weeks to be done with the recovery of Infection in the United States and new regional lock-downs not yet fully taken into account, said Analyst Michael Hewson of CMC Markets.

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on Wednesday, Figures on employment in the U.S. were published-private sector service provider ADP. Here, the number of jobs increased 167,000 to less than analysts expected. They had expected an increase of 1.2 million. However, there was a significant revision of the previous month's numbers up. The ADP Figures are considered to be good indicator for the official jobs report.

experts are warning against the effects of new waves of Infection

"Due to the impending wave of Infection is likely many new hires have been moved into the future", as the expert Patrick Boldt of the Landesbank Hessen-Thüringen (Helaba) said.

Also expert Andrew Hunter from the British analysis house of Capital Economics said the slight rise in the fear of a second wave of Infection. According to his assessment, there have tissue, especially in the Hospitality and leisure industry with a strong restraint for new hires given.

informed How the service provider ADP, was the increase in employment in June, however, much more than previously been known. The increase amounted, therefore, to 4.3 million, and not, as previously reported, only about 2.4 million. Thus, the number of jobs was increased both in June and in may, after it had given in April to a historic slump of 19.4 million.

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Updated Date: 07 August 2020, 11:26

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