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.
As a result, many areas that were reopening for business and beginning to call back workers are reversing course and imposing restrictions again.Even with the June gains, joblessness overall remains higher than at any time since the Bureau of Labor Statistics’ records began in 1948. And the data could see significant revisions because of extraordinary labor market turbulence.
FakeNews
They add or are these people returning to work after being laid off?
For such good news, why the negative spin? Last month it was a one month anomaly, two months make it...a pattern? 🤔
“Added new jobs.” That’s like saying I’ve added more wealth after losing $1,000 but finding a $10 bill on the ground.
Lots of things have been exploding. Karens pulling guns on moms in front of kids.
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Source: BusinessInsider - 🏆 729. / 51 Read more »
US companies added 2.37 million jobs in June, fewer than economists expected, ADP says - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. Those are furloughed workers being called back, let's make that clear. You mean furloughed workers going back to work. Its critical that these number be communicated accuartely b/c ppl will interpret this as the economy is making a come back- false. Companies are NOT hiring net new employees. They have hiring freezes and are still laying ppl off. It’s good to keep news positive. But, majority of the companies have reduced overhead (people). The positive numbers are those furloughed during lockdown. Also, the world is discussing inequality. So, all professionals will not be called back fairly. This is fact.
Source: BusinessInsider - 🏆 729. / 51 Read more »
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Source: AP - 🏆 728. / 51 Read more »
U.S. consumer confidence rebounds in June, but rising COVID-19 infections a worryU.S. consumer confidence grew more than expected in June, strengthening views that the economic downturn was likely over, though rising COVID-19 infections threatened to derail the budding recovery. Democrats are hell-bent against opening up America to resume a normal day. They want everything shut down to use this virus against President Trump's re-election. Democrats want THE PUPPET Joe Biden to get elected so this country can turn communist. ,,,, d sb ba ghb, tt
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