America’s private employers in July added 943,000 jobs—a proxy for new hires—in a sign that the U.S. economy enjoyed a solid burst of job growth as the labor market recovery continues. The Labor Department’s jobs report, released Friday, shows that nonfarm payroll employment rose by 943,000 in July, topping the 850,000 jobs U.S. employers added in June. Ahead of the release, economists’ estimates varied widely—from 350,000 to as much as 1.6 million, according to a Reuters review of institutional forecasts. Driving the uncertainty are the dynamics of the pandemic, particularly the spread of the Delta variant of the CCP (Chinese Communist Party) virus, which the Centers for Disease Control and Prevention (CDC) considers more transmissible and potentially more resistant to vaccines. But while the resurgence in COVID-19 infections poses a risk to economic recovery, there’s no sign yet of any significant impact. “While the Delta variant has sparked a rise in COVID …
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