US employment situation improving, with warnings

WASHINGTON, July 2 (Reuters Breakingviews) – The addition by the US economy of 850,000 jobs in June means that about 70% of the jobs lost during the pandemic have now been recovered. Still, there are signs that the recovery remains uneven, such as the increase in the number of people out of work for at least 27 weeks.

The payroll only increased by 269,000 in April. May brought an increase of 583,000. June’s figure exceeded economists’ estimates, according to a Reuters survey read more. Leisure and hospitality added 343,000 jobs. This sector is once again in bloom: in recent weeks, the number of Americans the guests seated in the restaurant eventually returned to 2019 levels, according to the OpenTable booking app.

But weaknesses remain. The number of long-term unemployed increased by 233,000 to 4 million. The rate of unemployed women has also increased. Other important markers for the Federal Reserve are also still lagging behind read more. For example, the black unemployment rate edged up to 9.2% last month, a move in the wrong direction. Until disadvantaged groups benefit more, the central bank will not want to let go of monetary gas. (By Gina Chon)

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Editing by Richard Beales and Amanda Gomez