This article appeared online at TheNewAmerican.com on Friday, October 2, 2020:
The Bureau of Labor Statistics (BLS) reported early Friday morning that the economy continues its surprisingly strong recovery from the greatest shutdown in U.S. history. The report, based on two surveys — the household survey and the establishment survey — said, “Improvements in the labor market reflect the continued resumption of economic activity” following the COVID-inspired shutdown.
Specifically, total non-farm payroll employment rose by 661,000 in September, dropping the unemployment rate by half of one percent, to 7.9 percent. Forecasters were expecting a drop to 8.2 percent.
Most of the gains were in leisure and hospitality, retail businesses, healthcare, and in professional and business services. Job recovery in food services and drinking places has totaled nearly four million over the last five months.
This comes on the heels of other reports and surveys earlier this week showing