By John Carney
https://www.breitbart.com/author/john-carney/
The U.S. economy added 4.8 million jobs in June and the unemployment rate fell to 11.1 percent, both better than expected.
The economy has added around 7.3 million jobs in the past two months. The increase in the ranks of employed workers shows that companies ramped up hiring as the economy reopened and consumers came back to stores, restaurants, and other businesses that had been shuttered in March and April.
Job growth was strong in restaurants and bars, reflecting the reopening of those establishments across the country, which added 1.5 million jobs, the Labor Department said Thursday. But employment remains 3.1 million below February’s level, the month before the pandemic hit the U.S. economy.
Retail stores added 740,000. There were big gains in clothing stores, furniture stores, department stores, and auto dealerships. Despite the gains, total employment is around 1.5 million below February’s level.
Manufacturing employment rose by 356,000 but is down by 757,000 since February. June employment increases were concentrated in the durable goods component, with the auto sector adding 196,000 jobs, accounting for over half of the job gain in manufacturing. Construction employment increased by 158,000 in June, following a gain of 453,000 in May.
Employers added the jobs even as much of the country was beset by urban riots, looting of commercial districts, and marches by self-styled “black lives matter” activists calling for the defunding of police and the toppling of statues of political leaders from America’s past.
https://www.breitbart.com/economy/2020/07/02/the-u-s-economy-added-4-8-million-jobs-in-june-unemployment-fell-to-11-1/