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Delta is a health check on solid U.S. jobs – Reuters

A poster alerting for the wearing of masks is seen on a 42nd Street subway entrance as cases of the infectious coronavirus Delta variant continue to rise in New York City, August 2, 2021. REUTERS/Andrew KellyWASHINGTON, Aug 6 (Reuters Breakingviews) – A possible cold is coming onto a healthy U.S. jobs market read more . Payrolls grew by 943,000 positions and the unemployment rate dropped 0.5 percentage points from June to 5.4% in July, the Labor Department said on Friday. But the Delta variant of Covid-19 is already causing people to cut back on eating at restaurants and travel.
Leisure and hospitality, the hardest hit sector in the pandemic, saw the biggest gains. Hotels, restaurants and the like added 380,000 jobs last month. But those industries are starting to see strains from the more contagious Delta variant read more .
Reservations at restaurants were down 10% on Wednesday compared with the same period in 2019, according to OpenTable. A week earlier, the drop was 4%. Daily passengers at U.S. airports had a five-day streak of over 2 million, the longest since travel nearly stopped last year, before falling below that level this week, data from the Transportation Security Administration showed. The economy may be in for some more sniffles. (By Gina Chon)
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Editing by Robert Cyran and Amanda Gomez
BreakingviewsReuters Breakingviews is the world’s leading source of agenda-setting financial insight. As the Reuters brand for financial commentary, we dissect the big business and economic stories as they break around the world every day. A global team of about 30 correspondents in New York, London, Hong Kong and other major cities provides expert analysis in real time.
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