US creates 1.8m jobs in July

US creates 1.8m jobs in July

US non-farm payrolls for July came in at 1.8m jobs created representing an unemployment rate of 10.2% down from 11.1% in June. The number was better than expected but still below the 4.8 million created in June. The bulk of the new roles created came from the hospitality sector as many in the country began to travel once again. Investors speculate that the slowdown in new jobs created since June centres around the re enforced lockdown in the southern states. Eyes remain on the trajectory of the report for the remainder of the year.