Rebounding Economy Smashes Expectations – 4.8 Million Jobs Added In June, Unemployment Drops Again

The June jobs info is out and it’s much better than expected.

Despite the jobs and businesses lost due to the lockdowns, the economy is rebounding, big time.

CNBC reports:

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

Nonfarm payrolls soared by 4.8 million in June and the unemployment rate fell to 11.1% as the U.S. continued its reopening from the coronavirus pandemic, the Labor Department said Thursday.

Economists surveyed by Dow Jones had been expecting a 2.9 million increase and a jobless rate of 12.4%. The report was released a day earlier than usual due to the July Fourth holiday.

POLL: Do You Think George Soros Is Behind The Protests?

Completing this poll entitles you to Pro Trump News updates free of charge. You may opt out at anytime with a single click. Here's our Privacy Policy.

The jobs growth marked a big leap from the 2.7 million in May, which was revised up by 190,000. The June total is easily the largest single-month gain in U.S. history.

“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.”

Here’s a video of Trump’s remarks:

Here are some reactions:

Imagine how much stronger the economy would be if we fully reopened.

 

Join the conversation!

We have no tolerance for comments containing violence, racism, profanity, vulgarity, doxing, or discourteous behavior. If a comment is spam, instead of replying to it please hover over that comment, click the ∨ icon, and mark it as spam. Thank you for partnering with us to maintain fruitful conversation.