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The most recent Bureau of Labor Statistics (BLS) monthly jobs report shows job gains slowed in July, with the economy adding back only 1.8 million jobs, compared to 4.8 million gained in June. This means that only about 2 in 5 (41.8%) of the 22.2 million jobs lost in March and April due to the COVID-19 crisis have returned. Nearly half (48.2%) of the jobs that returned in July are in the leisure and hospitality (which includes businesses like bars and restaurants) and retail trade sectors. These numbers reflect the state of the economy in early July, before some states re-imposed restrictions in response to surging coronavirus cases. Now that many businesses are being forced to close, the jobs that came back last month are at risk of being lost again.
Note: NWLC’s monthly jobs day analyses are generally not updated after publication and are provided for archival purposes. Please visit our main jobs day page for the most up-to-date analyses.