White House economic adviser offers hopeful prognosis.
U.S. jobs are gaining. 1.8 million jobs were added in the month of July and unemployment fell to 10.2%. Half of the jobs come through economies that are currently reopening, such as restaurants, hotels, and entertainment venues.
The nation saw a surge in positive virus tests, particularly over the southern and western states, during July that slowed the economic reopening in some of those regions. Certain segments of business that were starting their recovery were shut down again in response to the increase in reported numbers.
White House economic adviser Larry Kudlow said that the increase in cases was not as “difficult economically as some people feared.” He pointed out how the jobs survey was taken in the middle of the surge in cases across several states. Kudlow maintains the belief that unemployment will drop to single digits very soon and expects strong economic growth for the third and fourth quarter.
As the Lord Leads, Pray with Us…
- For the Labor Department to be strengthened in undertaking the task of supporting the U.S. labor force.
- That the Lord would give eyes of wisdom to President Trump as he utilizes this data in his decision making.
- That God would preserve those without jobs and bring healing to the nation.
Sources: AP, OANN
