WASHINGTON: U.S. employment growth slowed considerably in July amid a resurgence in new COVID-19 infections, offering the clearest evidence yet that the economy's recovery from the recession caused by the pandemic was faltering.
Nonfarm payrolls increased by 1.763 million jobs last month after a record rise of 4.791 million in June. That left payrolls 12.9 million below their pre-pandemic level. Employment peaked at 152.5 million in February. Infections of the respiratory illness soared across the country last month, forcing authorities in some of the worst-affected areas in the West and South to either shut down businesses again or pause reopenings, sending workers back home. Demand for goods and services has suffered.
The model that the government uses to strip out seasonal fluctuations from the data normally anticipates education workers to drop off payrolls in July. This, however, happened earlier because of the pandemic, leading to a big gain in July.
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