Fortune August 17, 2020
The U.S. economy added 1.8 million jobs in July, one of the highest one-month jumps on record, bringing total employment to 139.6 million. While that is substantial progress compared to April, when only 130.3 million were employed, it’s still significantly less that the 152.5 million people who made up the U.S. paid workforce in February.
Simply put: Employment is improving, but it’s still really bad.
And that rate of recovery is destined to slow. Over the past few months hiring was driven by states reopening businesses, like nail salons and dental offices, which don’t attract huge crowds. But unless the virus is tamed, businesses that do and are therefore not able to fully reopen—including...
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