Unemployment Rate Declined by Less Than One Percent in July
August 12, 2020
The U.S. Bureau of Labor Statistics has reported that the unemployment rate declined by 0.9% to 10.2%. The number of unemployed persons fell by 1.4 million to 16.3 million. Despite declines over the past 3 months, these measures are up by 6.7% and 10.6 million, respectively, since February, reflecting the continued resumption of economic activity that had been curtailed due to the COVID-19 pandemic and efforts to contain it.