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Hiring of workers increased in July at its fastest pace in nearly a year, despite fears about Covid’s delta variant – 19 and while companies struggle with a limited labor supply, the Labor Department reported on Friday.
The US economy added last month 943,000 Job positions of which, nearly a quarter were in the hospitality and recreation sector that employs many Latino workers.
The unemployment rate of Hispanics in the United States decreased to 6.6% in July compared to 5.4% for the general population, the Bureau of Labor Statistics (BLS) reported today.
Among hisp men In adult years, the unemployment rate fell from 6.6% in June to 6.2% in July, and among women it fell from 7.9% to 6.7%
President Joe Biden said, at the White House, that “for the first time the economy has added jobs each month for six months, and that represents 4 million new jobs. Our work is far from complete, ”he added. “The plan works and continues to move the country forward.”
More jobs created than any other president’s first six months in history.
America is on the move again. pic.twitter.com/FUDQPsnjpO
– President Biden (@POTUS) August 6, 2020
We’re now the first administration in history to add jobs every month of our first six months in office.
– President Biden (@POTUS) August 6, 2021
Speaker of the House of Representatives Nancy Pelosi, Democrat of California, hailed the report as “litmus proof that (the plan of) the Biden Administration and the Democrats to build a better economy is working.”
The number of unemployed in July stood at 8.7 million, this is 782,000 fewer people than in the previous month, which indicates that the US labor market had been recovering vigorously when the Delta variant of the coronavirus appeared.
The survey that supports this report from BLS was held in the middle of last month before some states and municipalities restored the use of masks and other restrictions, and many companies postponed their plans to return employees to offices.
Although the numbers have dropped considerably since the end of the recession, are still above the unemployment rate of 3.5% and the 5.7 million unemployed in February of 2020, before the impact of the COVID pandemic – 19.
The unemployment rate among the ho Number of adults decreased from 5.9% in June to 5.4% in July, while the rate among adult women decreased from 5.5% to 5%.
The decrease in the main unemployment rate is more substantial if it is considered that the labor force participation rate rose one tenth to 61. 7%.
Other data from BEA shows that the rate of workers who have abandoned the job search or those who take temporary jobs for economic reasons fell from 9.8% in June to 9.2% in July.
Last month, the private sector added 703, 000 jobs, compared to 769, 000 of the previous month , while the public sector added 240, 000, compared to 240, 02 June.
The manufacturing sector, which had losses in January and April, added in July 49, 02 jobs, the smallest addition in the first seven months of this year.
The hospitality and leisure sector added 253, 000 jobs, of which 253, 000 appeared in bars and restaurants. This sector, hard hit by the pandemic, has made sustained progress in reopening the economy. Unemployment fell from 19. 9% in June to 9% in July in stark contrast to the 25% unemployment a year earlier, but there are still some 1.8 million fewer workers in these activities than before the pandemic .
The business and professional services sector added 60, 000, and the transport sector and warehouses totaled 49,. .
BLS indicated that average worker wages rose 0.4% last month, increasing 4% since July 2020.
“Data from recent months indicate that growing demand for labor linked to the recovery from the pandemic may have pushed up the salaries ”, stated BEA.
This Thursday, the agency reported that the weekly number of applications for unemployment benefit fell last week to 385, 000, compared to 399, 02 of the above.
The average number of requests in four weeks was 385, 000, compared to the average of 394. 250 of the previous week.
With information from EFE