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Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

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Data: Bureau of Labor Statistics; Chart: Axios Visuals

The U.S. added 1.8 million jobs last month, while the unemployment rate fell to 10.2% from 11.1% in June, the Labor Department said on Friday.

Why it matters: The labor market continued to recover but the pace of job growth slowed significantly from June’s 4.8 million job gain, suggesting a stalled improvement as coronavirus cases surged and states pulled back on reopening plans.

The big picture: One-third of all jobs gained in July came from the leisure and hospitality sector.

  • There were also 301,000 jobs added in the government sector, thanks in part to "unusually large" increases in local education hiring, the government said.
  • The typical firings that take place occurred earlier than usual this year because of the pandemic, distorting the government's seasonality adjustments.

One factor economists are watching is how many workers temporarily laid off because of the pandemic are returning to work as some businesses reopen.

  • The number of unemployed persons who were on temporary layoff fell by 1.3 million in July to 9.2 million. They're about half what they were in April.
  • There was no significant change in the number of permanent job losers in July.

The bottom line: The labor market remains solidly in the hole, as roughly 22 million jobs were lost between March and April.

Go deeper

Nov 11, 2020 - Politics & Policy

CNN won election week in America

Photo: Joe Raedle via Getty

CNN edged Fox News among total viewers for election week, averaging 5.9 million to Fox's 5.7 million and MSNBC's 4.6 million, AP reports.

The state of play: The election, which saw record voter turnout, had networks competing for viewers as states were called.

Behind GameStop's latest stock surge

Illustration: Aïda Amer/Axios

Back in focus: The meme stock trade.

By the numbers: GameStop finished up 19%, after a wild day that saw shares spike as much as 80%.

AT&T spins off U.S. video business via deal with TPG

Photo: AaronP/Bauer-Griffin/GC Images

AT&T is spinning off three of its video services, including its satellite TV brand DirecTV, to create a new standalone video company called New DIRECTV.

Details: The company will be jointly owned by AT&T and private-equity giant TPG. AT&T will retain a 70% stake and TPG will own 30% of the firm.

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