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US record jobs gain 4.8 million in June

Discussion in 'Current News & Events' started by Mountainmanbob, Jul 3, 2020.

  1. Mountainmanbob

    Mountainmanbob Goat Whisperer Supporter

    +10,424
    United States
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    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."
     
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  2. Archivist

    Archivist Senior Veteran Supporter

    +5,010
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    Of course those numbers were recorded before the increased number of coronavirus cases caused some states to reimpose lockdown restrictions.
     
  3. Quartermaine

    Quartermaine Well-Known Member

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

    Mountainmanbob Goat Whisperer Supporter

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    And what exactly caused that?
    M
     
  5. Quartermaine

    Quartermaine Well-Known Member

    +886
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    so it's not a good thing?
     
  6. Mountainmanbob

    Mountainmanbob Goat Whisperer Supporter

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    Right CV hurt the economy
    US and world.
    China
    M
     
  7. DaveISBA

    DaveISBA New Member

    75
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    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?
     
    Last edited: Jul 3, 2020
  8. Mountainmanbob

    Mountainmanbob Goat Whisperer Supporter

    +10,424
    United States
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    They don't roll like that.
    M
     
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