Economy America begins rapid recovery
Despite what the press has published and the experts said and still say, the U.S. economy continues to lead the economic recovery compared to the rest of the world.
One (1) out of 10 (ten) Americans in the American workforce is out of work.
The percentage of unemployment for the month of July, fell another 0.9%, coming this month, ending at 10.2%,thus falling from 14.7% three months ago.
Minorities benefited the most in this resumption, with Afrodescendants having a drop in unemployment of 0. 8 in July only. American Hispanics and Asian Americans incredible 1.6%.
The drop in unemployment was in all segments, with a drop of 1.2% for those without a high school degree and 1.3% for those who completed the course.
There were 1.8 million new jobs created this last July.
In total, 9.1 million jobs have been created in the last three months.
The indústrias hardest-hit industries such as entertainment and hospitality were the fastest growing jobs with 850,000 new jobs in July.
It is worth noting that in the recession of 2010 it took 9 million jobs to create, while with this terrible pandemic, 9.3 million jobs were recreated in three months.
Still to help, this weekend was signed an Executive Order that adds an additional $400.00 per week to unemployment aid, which was waxing at the end of July, when the aid was $600.00 per week, benefiting those who have not yet returned to work, to help pay rents, mortgageloans, etc. .
In this case the federal government will bear 75% ofthisjuda and, the States, should cover the remaining 25%.
To meet these expenses, the President added $44 billion to FEMA funds, and this aid is expected to go until December 6.
Inaddition, it has put for 2021 the collections of loans granted to students who must goto the federal program of assistance for those who have madeuniversity.
As for the relief of mortgage borrowers,, is encouraging rules to avoid eviction actions for non-payment, at least for those who have financing in federal entities.
On the other hand, it was allowed that the taxes of those who earn less than $100,000 a year be posted from September to December of thisyear.
As can be seen from the analysis of jobs, the economic recovery is on its fast track, and the U.S. should very, soon, reach single-digit unemployment, returning to its pace of growth before the pandemic..
Carlo Barbieri
