This past Friday, the Bureau of Labor Statistics provided a bit of good news for the beleaguered coronavirus economy: Some 1.8 million jobs were added to the economy in July, and the unemployment rate ticked down to 10.2%. Thinking optimistically, an economy with roughly 10% unemployment is a 90% economy — 90% of those in the labor force who want a job have one. Viewed another way, according to payroll data there were 140 million people employed in July. The BLS household survey, which generates the unemployment rate, indicated there were 16.3 million looking for work.

With 140 million working, and with 16.3 million looking, the economy seems to be reknitting itself. Yes, there’s a pulse beat out there. A somewhat unregulated market economy, if left alone, is capable of finding its way during pretty bleak times.