5 of the most important takeaways from the June jobs report
A record 4.8 million jobs were added to the U.S. economy last month and the unemployment rate fell to 11.1%, according to the June jobs report released by the Bureau of Labor Statistics on July 2. While that number surpassed economists' predictions and reads like a rare bit of good pandemic news, the actual picture of the country's economic health is a bit more complicated.
The June report is a snapshot of the economy without the impact of recent COVID-19 surges and shutdowns in many southern states. The growth that the U.S. economy has experienced over the last two months is modest compared to the total losses sustained in March and April and appears to be stalling in recent weeks. Additionally, more than half the gains reflect rehires to positions that were stalled during shutdowns in the last several months. Nevertheless, there are positive indicators that point to early signs of recovery.
Stacker pulled out key takeaways from the June jobs report to help you make sense of the numbers and understand the constantly evolving road to economic recovery in America amid COVID-19.
