Hourly Wages Up 4 Percent In July Compared To Same Month In 2020 As 261K Return To Work
Also, employers added 943,000 jobs in July alone with the unemployment rate falling by 5.4 percent. A large portion of jobs added were in the hotel and restaurant industry with 327,000 new positions. In March and April 2020, more than 22 million jobs were lost, but nearly 17 million have been recovered since. “If the pace of hiring over the last three months continues, all jobs lost due to the pandemic would be regained in seven months,” Leslie Preston, a senior economist at TD Economics, said in a research report....