What to watch as new job numbers released

Economists expect the U.S. economy gained 1.5 million jobs in July, and that the unemployment rate fell to 10.6%
1:58 | 08/07/20

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Transcript for What to watch as new job numbers released
Now to the economic crisis, more than 30 million Americans claiming unemployment benefits. Rebecca Jarvis has more. Good morning to you, Rebecca. Good morning. This is the broadest picture of what happened to jobs in the United States in the month of July and economists are forecasting that the economy did add 1.5 million jobs and that the unemployment rate fell to 10.6%. That's still highly elevated from what we would consider normal. In fact, it is higher than the worst of the great recession here in the U.S. Where we got to 10%. And if you take a look at the last 20 weeks, more than 1 million Americans have been laid off every single week for the last 20 weeks. Last week alone, 1.2 million Americans were laid off. That means the numbers are moving in the right direction but they are still, Amy, six times what we would consider normal for a week of layoffs in the United States. Yeah, so Rebecca, we're in unchartered territory. That said, do experts have any indication, any predictions about what the fall may look Well, if you think about it, we are climbing out of a deep hole. And therefore, it will look like a strong surge when things begin to reopen and we are beginning to see those signs of people going back to work over the months of may and June. 7.5 million Americans returned to jobs, but again, the hole is very deep that we're digging out of. And it comes down to the virus and how we feel about the economy and the government, the response as you just heard there between George and Mary, there is a stalemate happening right now in Washington over those benefits, those $600 checks that unemployed Americans have been relying on since March. Amy? Still so many unknowns.

This transcript has been automatically generated and may not be 100% accurate.

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