Top
image credit: Pexels

U.S. regains 4.8 million jobs in June and unemployment falls to 11.1%, but rehiring poised to slow

July 2, 2020

The numbers: The U.S. added 4.8 million jobs in June and the unemployment rate fell for the second straight month to 11.1%, but the economy’s recuperation from the coronavirus might already be suffering a setback from a renewed surge in COVID-19 cases.

Stock rose after the June employment numbers. The increase in new jobs exceeded the 3.7 million forecast of economists polled by MarketWatch.

Millions of people have returned to work since the states began to reopen in May, signaling a recovery took root after what’s likely to turn out to be the deepest and shortest recession in American history.

Read More on Market Watch