FILE - In this May 21, 2020 file photo, a man looks at signs of a closed store due to COVID-19 in Niles, Ill. U.S. businesses shed 2.76 million jobs in May, as the economic damage from the historically unrivaled coronavirus outbreak stretched into a third month. The payroll company ADP reported Wednesday that businesses have let go of a combined 22.6 million jobs since March.AP Photo/Nam Y.
FILE - In this May 21, 2020 file photo, a man looks at signs of a closed store due to COVID-19 in Niles, Ill. U.S. businesses shed 2.76 million jobs in May, as the economic damage from the historically unrivaled coronavirus outbreak stretched into a third month. The payroll company ADP reported Wednesday that businesses have let go of a combined 22.6 million jobs since March.AP Photo/Nam Y.
U.S. businesses sharply reduced hiring last month suggesting that the resurgent viral outbreak this summer slowed the economic recovery as many states closed parts of their economies again and consumers remained cautious about spending. U.S. firms added just 167,000 jobs in July, payroll processor ADP said Wednesday, far below June’s gain of 4.3 million and May’s increase of 3.3 million. July’s limited hiring means the economy still has 13 million fewer jobs than it did in February, according to ADP, before the viral outbreak intensified.
Hiring collapsed among companies of all sizes and in nearly all industries. A category that mostly includes restaurants, bars and hotels added just 38,000 jobs last month, after gaining more than 3 million in May and June.
The Paycheck Protection Program (PPP) has dispensed over $521B as of June – primarily to full-service restaurants, lawyers, real estate agents, physicians & dentists – and is helping to keep small businesses employees on payroll, but for how long?
Too many people at home making more money than working.
It’s not the outbreak, but the government response to the outbreak that has caused the economic misery.
bankrupting businesses, one lie at a time ... AP
Suggesting nothing of the sort. People took their generous benefits and refused to work
Who could have imagined that forcing businesses to close down would affect their hiring capabilities?
Congrats, Comrades. It worked.
SykesCharlie Or to put it another way... new hiring down 96% from June.
It's what the left wants. That and us speaking Chinese.
Trump sucks
Dead people consume no goods or services. Just a reminder to all of the capitalists and billionaire-defenders out there.
ibflorea it’s weird the pandemic and the lack of personal rhetorical and practical leadership by the president (and his subversion of those in his administration trying to deal with it) would also have a negative economic impact
So much for that hoax. Really hope the cult wakes up before they are all asked to march off a cliff after November
Lol.... no the virus didn’t slow anything down. Idiot politicians purposely shut down their own economies for political purposes are to blame. The FakeNews won’t tell you that because they are leftist fools themselves.
realDonaldTrump If you still think that you can win, wait 'til the of bankruptcies starts rising due to your negligence & the destruction you have caused our country. DOMINO effect coming up. No jobs, no money, no payments, no food. Result: ALL ON YOU!
Pfft, people are shopping their wallets off. Why do you think we are seeing so many mask arguments? Hiring is down because the pool of applicants dried up. Now that the $600/ week unemployment bonus is gone, the next set of numbers will be staggering.
Kinda hard to hire when your business has been looted and rioters have taken over the streets!! This is what Democrats want for America? Trump2020LetsSaveAmerica
Proving again that had the opening been delayed it would have cost the economy less
No way
Thank you Donald Trump 👎
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