After two months of feeling slightly better about their odds in the labor market, Americans grew more pessimistic in July, according to a survey released Monday by the New York Federal Reserve.
The shift reflects the effects of fresh restrictions enacted by state and local governments to combat a resurgence in coronavirus infections. U.S. employment growth slowed considerably in July, reflecting a potential slowdown in the economic rebound. Nonfarm payrolls increased by 1.8 million jobs last month, compared to the record 4.8 million jobs added in June, the Labor Department said on Friday.
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