U.S. Jobs Picture Improved, Covid Variant Risk Declined, And Stocks Closed Week At Record

Published Friday, August 6, 2021 at: 6:18 PM EDT

The total number of U.S. employees grew by 943,000 in July, a blockbuster number, and the risk of the Covid variant stopping the economic recovery grew less ominous this past week. In addition, the numbers on vaccinations improved markedly and behavioral economic factors kicked in, decreasing the likelihood that the Covid variant would end the recovery or even materially slow it down. The stock market closed at an all-time high.    Total nonfarm payroll employment rose by 943,000 in July, and the unemployment rate declined by 0.5 percentage points to 5.4 percent, the U.S. Bureau of Labor Statistics reported today.  The unemployment rate...

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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.

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