Richardcyoung.com

  • Home
  • Debbie Young
  • Jimmy Buffett
  • Key West
  • Your Survival Guy
  • How We Are Different
  • Paris
  • About Us
    • Foundation Principles
    • Contributors
  • Investing
    • You’ve Read The Last Issue of Intelligence Report, Now What?
  • The Swiss Way
  • My Rifles
  • Dividends and Compounding
  • Your Security
  • Dick Young
  • Dick’s R&B Top 100
  • Liberty & Freedom Map
  • Bank Credit & Money
  • Your Survival Guy’s Super States
  • NNT & Cholesterol
  • Your Health
  • Ron Paul
  • US Treasury Yield Curve: My Favorite Investor Tool
  • Anti-Gun Control
  • Anti-Digital Currency
  • Joel Salatin & Alfie Oakes
  • World Gold Mine Production
  • Fidelity & Wellington Since 1971
  • Hillsdale College
  • Babson College
  • Contact Us

2.5 YEARS LATER: Economy Recovers Jobs Lost in Democrat Lockdowns

August 8, 2022 By The Editors

Gov. Andrew Cuomo gives a speech at the Sustainable Development Capital Region Conference, November 29, 2016. Photo courtesy of HUD.

Remember when blue states destroyed the nation’s economy by shutting down every business possible beginning in March 2020? Now, two and a half years later, the economy has recovered the jobs it lost in those shutdowns, and Democrats want to take credit for “job growth.” Most Americans aren’t falling for it. The Wall Street Journal reports on the economy’s recovery from draconian Covid rules, writing:

U.S. employers added a robust 528,000 jobs last month, helping the economy recoup the 22 million positions lost early in the pandemic, as hirers clamored for workers despite a slowdown in economic growth.

The jobs recovery took nearly 2½ years and included a stretch in the first half of the year when payrolls grew faster than during any other post-World War II period that also featured the start of an economic contraction. The unemployment rate dropped to 3.5% last month, a half-century low also seen just before the pandemic in early 2020, the Labor Department said Friday.

Stocks closed mostly lower and bond yields rose on Friday, with the tech-focused Nasdaq Composite recording the steepest declines.

The labor-force participation rate—or the share of adults working or seeking a job—ticked down to 62.1% in July from 62.2% a month earlier. While the economy has recovered all the jobs it lost since February 2020, there are still 623,000 fewer people in the workforce, a factor that has pushed up wages due to a demand for workers that is well above the number of available workers.

Wage growth was stronger than economists anticipated in July, with average hourly earnings rising 0.5% from June and 5.2% from a year ago. Wage growth in June was also revised higher, indicating that earlier data overstated the magnitude of a recent deceleration in the brisk pace of wage growth.

Job gains were widespread last month. Employers in leisure and hospitality added jobs at a solid clip, as restaurants and bars continued to recover. Payrolls also grew in healthcare and professional and business services, which includes many white-collar jobs.

Industries vulnerable to the Federal Reserve’s interest-rate increases also performed well in July. Construction firms, manufacturers and finance companies all added to payrolls.

If you’re willing to fight for Main Street America, click here to sign up for the Richardcyoung.com free weekly email.

Related Posts

  • Four More Years?
  • The Trump Economy Surprises Economists by Churning Out More Jobs
  • Trump Economy: Lowest Unemployment in 49 Years!
  • Draconian Lockdowns Disfigured the Economy and the Election
  • Author
  • Recent Posts
The Editors
The Editors
The Editors
Latest posts by The Editors (see all)
  • Is There a Case for Defending Taiwan? - May 19, 2025
  • Donald Trump ROASTS Bruce Springsteen - May 19, 2025
  • Russian Black Sea Fleet Decimated - May 6, 2025

Dick Young’s Must Reads

  • The Breakfast of Champions
  • Washington Is the Systemic Risk
  • Tucker Carlson Interviews My Favorite Florida Farmer
  • Americans Must Demand an End to the Welfare-Warfare State
  • Paris, The Palace Hotels: Part I
  • Your Survival Guy Prefers Bombardier’s Global Express 7500
  • BANKERS’ WARS: Is Central Banking the Root of Global Conflict?
  • What Do You Know About Rho-Kinase?
  • “If Only I’d Followed Dick Young’s Advice Sooner”
  • Yes! Money Can Bring You Happiness

Our Most Popular Posts

  • A Calculated Decision to Keep Silent
  • An American Tragedy
  • Congratulations, You Graduated into Retirement. Now What? #5
  • Retirement #4: How Do You Feel? How Will You Feel?
  • Who Knew about Biden's Health?
  • Middle East Investment Bonanza as Trump Tours Region
  • Donald Trump’s First 100 days
  • Is Trump Divorcing Bibi?
  • A Contemptable Little Twerp
  • PREPARE FOR THE WORST: Poland's Military Overhaul

Compensation was paid to utilize rankings. Click here to read full disclosure.

RSS Youngresearch.com

  • Graduating from Work to Retirement: Get Paid #8
  • Cheapest Memorial Day Fill-Up Since 2003: What’s Fueling the Drop?
  • “One, Big, Beautiful Bill” Advances: Tax Cuts, Energy, and Border Security in Focus
  • Metallurgical Coal Declared a Critical Material for American Steel Production
  • Stable Job Market in Most States
  • Graduation to Retirement: “I Have a Guy” #7
  • Indonesia Urged to Act Fast to Avert Domestic Gas Crisis by 2033
  • Nuclear Power Gets Green Light in Sweden Despite Political Divide
  • Behind the Code: Microsoft Hunts a Global Cyber Threat
  • Congratulations, You’re Retired: Now What? Part 6

RSS Yoursurvivalguy.com

  • Graduating from Work to Retirement: Get Paid #8
  • Investing Habits of the Fairly Wealthy: #9 FTX
  • LVMH’s Arnault Rejects France’s Economic Nationalism
  • Graduation to Retirement: “I Have a Guy” #7
  • Your Retirement Life: Top of the Rock
  • Where Do We Stand with Tariffs?
  • Congratulations, You’re Retired: Now What? Part 6
  • Investing Habits of the Fairly Wealthy: #10 Powerball
  • Is America Poised for Next Gen Nuclear Power?
  • Congratulations, You Graduated into Retirement. Now What? #5

US Treasury Yield Curve: My Favorite Investor Tool

My Key West Garden Office

Your Retirement Life: Traveling the Efficient Frontier

Live a Long Life

Your Survival Guy’s Mt. Rushmore of Investing Legends

“Then One Day the Grandfather was Gone”

Copyright © 2025 | Terms & Conditions | About Us | Dick Young | Archives