The U.S. economy added a larger-than-expected 4.8 million jobs in June despite the worsening COVID-19 pandemic, registering solid gains for the second straight month after suffering near-Great Depression losses in the spring, the government reported Thursday.
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 thus 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.Jobless rates dropped across the board, but disparities remain significant. Black unemployment was 15.4% compared with 14.5% for Latinos, 13.8% for Asians and 10.1% for white people. Unemployment for college graduates was down to 6.9% versus 12.1% for workers with only a high school education.
The country overall lost 22 million payroll jobs in March and April, and has now regained about one-third of them. But that doesn’t include millions of workers whose hours have been reduced to part-time and who have dropped out of the labor force because they either don’t see much out there or are staying on the sidelines because of health concerns.
In June, the leisure and hospitality sector added 2.1 million new jobs, or two-fifths of the total new payrolls over the month.In May, California trailed in recovering those jobs, reflecting in part a slow reopening of businesses and the state’s disproportionate dependence on tourism and trade. “As the demand from businesses and consumers decreases, then economic uncertainty increases, and there’s just less demand to actually hire new workers, even in industries where remote work is possible,” said Daniel Zhao, Glassdoor’s senior economist. “This is kind of like a second wave effect rippling through the economy as a result of the COVID-19 crisis.”
Democrats are obsessed with regaining power the past 4 years are a disgusting example of their lies and corruption.
These are not new jobs just people returning to their old jobs.
And Democrats are like...
Or NOT !
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