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Another 1.8 million jobs were added in July, bringing the 3-month total to 9.3 million.
American workers and businesses continue to prove that they are fighting for the great American comeback. The United States economy has now added 9.3 million new jobs in the past 3 months, beating market expectations by a combined 12 million. The Bureau of Labor Statistics reported adding another 1.8 million new jobs in July, exceeding expectations for the third straight month. Down from a high of 14.7 percent just three months prior, the official unemployment rate reached 10.2 percent in July.
Historically less-advantaged groups have experienced large gains. Following massive losses during the pandemic lockdown, Black Americans have recorded nearly a million new jobs since April, and their unemployment rate fell by 0.8 percentage points in July alone. Hispanic Americans and Asian Americans also saw substantial unemployment rate declines in July, decreasing 1.6 percentage points to 12.9 percent and 1.8 percentage points to 12.0 percent, respectively. The unemployment rate fell by 1.2 percentage points for those without a high school education, and by 1.3 percentage points for those with only a high school education.