America Is Getting Back to Work

New York Times: “America is getting back to work. That’s the simplest, clearest analysis of the labor market that emerges from nearly every line of the July employment numbers released Friday morning. It is a welcome sign that, as of the middle of last month, the economy is healing rapidly — and that the previous couple of months reflected healthier results than previously estimated.”

Wall Street Journal: “A strengthening U.S. labor market added cushion to the economic recovery in July ahead of the Delta variant threat, with employers creating jobs at the best pace in nearly a year and the unemployment rate falling sharply.”

Washington Post: “The two reports make for two straight months when nearly 1 million jobs were added – totals that are close to the optimistic predictions many economists had last year about how vaccinations would smooth the way for the labor market recovery. Wages also continued to rise, raising by 11 cents an hour to $30.54 on average — the fourth straight month of growth. Both long-term unemployment and the number of people on temporary layoff also declined.”