Good news comes to the Trump administration, after a few months of a serious economic crisis, in the month of July its unemployment rate fell nine tenths, standing at 10.2%, being the third consecutive month of recovery. This is due to the gradual opening of the economy after the harsh measures imposed by the global coronavirus pandemic, as reported by the government itself.
Almost 1.8 million jobs were created this month, adding to the 4.8 million in June and 2.7 million in May, which gradually makes the country recover from the loss it suffered with 20.8 million jobs in April. With this growth, one of the benefits of the unemployed is that the average salary grows this month, they rose 7 cents an hour, reaching 29.39 dollars and the weekly working hours are currently 34, 5 in July.
This job creation has caused the unemployment rate to fall to the historical maximum in recent months, adding more benefits for the unemployed, among them we find the reactivation of the hospitality sector, being the one that has generated the most work, with almost 60,000 new posts. This also indicates the recovery of one of the sectors most affected by the closure due to the pandemic, giving more job opportunities for those who cannot find a job.
But they have more unemployment benefits at the moment, from the central government they have launched a fund of $ 300 that will begin to be distributed this week among citizens. This money comes from a memorandum decreed by President Trump on August 8, reactivating the impasse into which the negotiations in congress had fallen. The Federal Emergency Management Agency (FEMA) has announced that these unemployment benefits can be enjoyed by the states of Arizona, Iowa, Louisiana and New Mexico, being the first on the list of those that have suffered the most from job loss in the country.
This new aid is in addition to the unemployment benefits that those who request it are already receiving and it is financial support for them. Negotiations are already under way to incorporate these aid to other states, such as Colorado, Missouri and Utah.
All these new projects and grants have managed to reactivate the market and for consumption to grow and to begin to see the light at the end of the tunnel, making investors feel encouraged by the possible reactivation of the world's leading economy.