June jobs numbers improve but worsening COVID-19 cases darken the outlook

***The job’s report came out before larger states started “reversing course and imposing restrictions again.” These are not new jobs as in ‘job creation.’ The numbers reflect people who have returned to their job.

The U.S. economy added 4.8 million jobs in June despite the worsening COVID-19 pandemic, registering gains for the second straight month after suffering near-Great Depression losses in the spring, the government reported Thursday.

Reflecting the June increase, the nation’s unemployment level fell to 11.1% after hitting 13.3% in May and 14.7% in April.

While the back-to-back months of improving numbers offered a spot of hope, they may be an uncertain guide to the future. Coronavirus cases, as well as hospitalizations and infections among younger Americans, have been exploding in California and other states across the West and South.

The Los Angeles Times:

Leisure and hospitality again accounted for the biggest jump, as the sector saw a 2.1 million gain, accounting for about 40% of the total growth.

Retail also saw a sizeable boost, with a gain of 740,000. Education and health services  rose 568,000 and manufacturing was up 356,000. Personal and laundry services saw another major gain, at 264,000, part of an increase in other services that totaled 357,000.

CNBC:

Ms. G
About Ms. G 2065 Articles
Any Adult in the Room-2020.