Confirming Recovery Is Under Way

Published Friday, August 7, 2020; 9:00 p.m. EST

(Friday, August 7, 2020; 9:00 p.m. EST) Confirming a recovery is under way and the recession is ending, the U.S. Labor Department reports 1.76 million net new jobs were created in July and the rate of unemployment dropped to 10.2%. In addition, strong increases in the service and manufacturing sectors were reported by corporate purchasing managers, according to the Institute of Supply Management, and ISM's forward-looking sub-index measuring new-order activity surged in July. Improvement in the job situation and corporate purchasing numbers had been expected but the gains were materially stronger than had been expected by economists. 08/07/2020 closing number: 3,351.28 The Covid-crisis...

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This article was written by a veteran financial journalist based on data compiled and analyzed by independent economist, Fritz Meyer. While these are sources we believe to be reliable, the information is not intended to be used as financial advice without consulting a professional about your personal situation.

Indices are unmanaged and not available for direct investment. Investments with higher return potential carry greater risk for loss. Past performance is not an indicator of your future results.

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