October 2, 2022

July jobs report defies Wall Street predictions, economy adds 1.48 million jobs

Mainstream media’s attempts to hype coronavirus appear to have failed as the US economy continues to recover from Democrat-mandated lockdowns at a record pace.

Though the US is still experiencing historic unemployment levels, the economy is adding jobs at an unprecedented pace. July’s job numbers are in, and despite rising COIVD-19 cases in some states, the national unemployment rate dropped from 11.1 percent to 10.2 percent.Β 

Some states opted to slow or reverse reopening progress made in the last several months, but it didn’t stop the economy from adding 1.48 million jobs.

Additionally, jobless claims declined by 249,000 to 1.186 million last week — the lowest since the beginning of the coronavirus crisis — data from the Department of Labor showed Thursday.

CNBC reported:

The total unemployment level is at 16.3 million Americans, a decline of more than 1.4 million, according to the survey of households. That compares with a peak of nearly 23.1 million in April.

Finally, despite claims that the Trump economy and administration has done nothing to help the black community, Breitbart reported:

The better than expected jobs gains in July boosted black employment in the United States by more than it boosted white employment. As well, the black-white gap in unemployment is at a historic low.

The number of black Americans holding jobs in the United States rose 1.4 percent in July, according to data released by the Department of Labor Friday. That bested the 0.6 percent gain for white Americans and 0.7 percent gain for Hispanic Americans.

The Trump economy was President Trump’s strongest argument for re-election, and Democrats were beside themselves with glee that COVID-19 presented the perfect opportunity to destroy all of Trump’s progress.

However, despite their best efforts, the US is recovering faster than anyone could have predicted.

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