"Overall, the labor market appears to be making steady progress towards recovery however, storm clouds are on the horizon," said Daniel Zhao, Glassdoor senior economist. Next month's report will show whether the more contagious strain will derail the economic recovery just starting to gain steam. The data in the July report is based on surveys taken mid-month, before the recent rise in COVID-19 cases linked to the delta variant. However, the delta variant does pose a risk to the pace of progress." "Sectors tied to the reopening of the labor market are leading the way, giving some hope that these gains can continue in the months ahead. "Job growth continues to accelerate and more workers are finding jobs or starting to pick up their job search," said Nick Bunker, an economist at the Indeed Hiring Lab. Total employment is now 5.7 million jobs below its pre-pandemic level, while unemployment is still quite far from the pre-pandemic rate of 3.5 percent. payrolls rose by 943,000 in July-from June's upwardly revised gain of 938,000-the largest monthly increase since August 2020. Almost a million new jobs were created in July-on top of a similar number revised up for June -and unemployment fell to a new pandemic low of 5.4 percent, according to the latest employment report from the Bureau of Labor Statistics (BLS).
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