Economy
August 12, 2020
Written by Peter Wright
Nonfarm employment rose by 1.7 million in July, but from May through July has made back less than half the losses of March and April.
The July jobs report was released by the Bureau of Labor Statistics on Friday and slightly exceeded analyst’s expectations by adding 1.8 million jobs. May’s job gain was revised up by 26,000 and June by 17,000.
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To kick off the official sessions of the 2023 Steel Summit, Dr. Anirban Basu, chairman and CEO of the Sage Policy Group, focused on the broader context in which steel prices are set, outlining major factors currently shaping economic outcomes in our country.
Mexico has decided to implement import tariffs on a number of products, among them, steel.
As mortgage rates continue to rise and housing demand slows, builder confidence is waning. A drop in July housing starts was the first in seven months.
Economic activity in the US manufacturing sector contracted for the ninth month in a row in July, according to the latest report on business from the Institute for Supply Management (ISM).