09302020Wed
Last updateTue, 29 Sep 2020 7pm

Manufacturing & The Economy

U.S. Added Nearly 1.8 Million Jobs in July

Total nonfarm payroll employment rose by 1.763 million in July, and the unemployment rate fell to 10.2%, the U.S. Department of Labor reported today. These improvements in the labor market reflected the continued resumption of economic activity that had been curtailed due to the coronavirus (COVID-19) pandemic and efforts to contain it. In July, notable job gains occurred in leisure and hospitality, government, retail trade, professional and business services, other services, and health care.

Manufacturing employment increased by 26,000 in July. An employment gain in motor vehicles and parts (+39,000) was partially offset by losses in fabricated metal products (-11,000), machinery (-7,000), and computer and electronic products (-6,000). Although manufacturing has added 623,000 jobs over the past 3 months, employment is 740,000 lower than in February.

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