US record jobs gain 4.8 million in June

[Mountainmanbob]

Record jobs gain of 4.8 million in June smashes expectations; unemployment rate falls to 11.1%

KEY POINTS

• Nonfarm payrolls rose by 4.8 million in June, much better than the expected increase of 2.9 million.
• The unemployment rate fell to a crisis low of 11.1%, also better than the 12.4% estimate.
• Those on temporary layoff fell by 4.8 million in June to 10.6 million after a decrease of 2.7 million in May.

"Today's announcement proves that our economy is roaring back. It's coming back extremely strong," President Donald Trump said in a news conference about an hour after the numbers were released. He pointed specifically to a sharp drop in the unemployment for Blacks that fell from 16.8% to 15.4%. "These are historic numbers."

 

[Archivist]

Of course those numbers were recorded before the increased number of coronavirus cases caused some states to reimpose lockdown restrictions.

 

[Quartermaine]

You have to appreciate just how hard some people are working to spin 11% unemployment into sounding like a good thing

 

[Mountainmanbob]

11% unemployment

And what exactly caused that?
M

 

[Quartermaine]

so it's not a good thing?

 

[Mountainmanbob]

so it's not a good thing?

Right CV hurt the economy
US and world.
China
M

 

[DaveISBA]

You have to appreciate just how hard some people are working to spin 11% unemployment into sounding like a good thing

You have to be appreciate how hard people are working to ignore the 4.8 million jobs created and spin the jobless rate which is falling, not rising, especially when economists surveyed by Dow Jones had been expecting a 2.9 million increase and a jobless rate of 12.4%! You'd think people like you would at least be somewhat encouraged?

 

[Mountainmanbob]

You'd think people like you would be at least be somewhat encouraged?

They don't roll like that.
M