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'Drunken-Square-Root-Sign-Shaped Recovery': Economists React To July Jobs Report On Twitter

Total nonfarm payroll employment rose by 1.8 million jobs in July, the U.S. Bureau of Labor Statistics reported Friday. The unemployment rate fell to 10.2%.

"Among the unemployed, those who were jobless less than 5 weeks increased by 364,000 to 3.2 million in July, and the number of persons jobless 15 to 26 weeks rose by 4.6 million to 6.5 million," BLS wrote in its report. 


Hiring slowed in July after two months of significant gains, indicating a recovery that is still happening, but stalling somewhat. Leisure and hospitality employment increased by 592,000 jobs in July, about one-third of the month's nonfarm employment gains. But jobs in food services and drinking places remains down by 2.6 million since February.

Retail trade jobs also grew, adding 258,000 jobs in July. But the industry still has 913,000 fewer jobs than it did in February.

The construction industry added 20,000 jobs in July after adding 619,000 jobs in May and June combined.

Here's how economists and others reacted to the jobs report on Twitter.














Related Topics: jobs reports