4 Million Jobs Added In June, Unemployment 11.1%

BUREAU OF LABOR STATISTICS: THE US ECONOMY CREATED 4.8 MILLION JOBS IN JUNE, FAR BETTER THAN ECONOMISTS PREDICTED

(CNN) – The new job growth numbers are out and there’s good news and bad news.

The Bureau of Labor Statistics reported on Thursday the US unemployment rate fell to 11.1%.

The economy added a record 4.8 million jobs in June.

That’s far better than economists predicted.

It’s the second consecutive month of growth after more than 20 million jobs were wiped out in April during the coronavirus lockdown.

But, the US economy is still in a deep recession, and millions of people are still relying on government aid to make ends meet.

The Department of Labor reported on Thursday that 1.4 million workers filed for first-time unemployment benefits last week; that’s more than economists expected.

And the number of people filing for unemployment help at least two weeks in a row, stood at 19.3 million slightly more than the prior week.

The Bureau of Labor Statistics is set to release the June jobs report Thursday.

Categories: US News