June jobs report: +4.8 million jobs, Unemployment drops to 11.1%
 

The Labor Department said in its report, released on Thursday because of the Fourth of July holiday, that employers added 4.8 million jobs in June — the biggest increase on record. Unemployment dropped to 11.1% Economists surveyed by Refinitiv expected the report, to show that unemployment dropped to 12.3 percent and that employers added 3 million jobs.

Unemployment rate drops to 11.1% in June as job growth blows past expectations with 4.8M added | Fox Business

So we're headed in the right direction, exceeded expectations, but I am sure there will be "experts" telling us why this is not actually good news. :icon_wink:

Most of the media will just ignore the news

And some of these are because of the re-opening of the United States but the statistics for the spread of the Corona Virus today should also be taken into account.

So, I wonder how many if not all those "new" jobs are simply people just going back to the jobs they were either laid off or furloughed from? I'm almost certain that not many businesses were created during last 90 days either but what do I know? No one I know that was laid off has found a "new" job.

Pretty sure it's mostly people going back to work, but that's a good sign the economy will recover.

Saw this job report mentioned on EVERY CHANNEL.

People who were laid off and now going back to work is certainly a good thing.

Lets hope it continues.

.......and many companies have discovered they need a lot less people to operate efficiently, so a lot of workers wont be back!

I'm just glad that there are jobs for them to go back to. Things are going in the right direction and hopefully we will resist the urge to shoot ourselves in the foot.

Of course most are re hires, but to the economy itself it doesn't matter . the better numbers to understand our situation are total employed, total on unemployment, total seeking jobs. As some give up.
By the way, I predict unemployment at. 5-6% by elections.

Unfortunately NO JOBS were created employees previously laid off were recalled. Along with that report 1.5 million people applied for unemployment. It is great that the US is starting to recover. Florida Texas Arizona and California along with 20 other states are seeing an alarming rise in infections. We can not use the Villages as an example of recovery daily we are seeing infections that we did not see in the initial wave.
We still have 15 million unemployed greater than the last recession now receive extended weekly benefits thru July 31 which will expire.

Totally agree.

Those numbers are not accurate at all ... there is massive undercounting currently.

The economy is in deep trouble and too many small businesses will never open again .... good that the Fed is keeping the markets from collapse but for how long can that continue?

Massive undercounting? You mean there's more jobs? :)

The economy is recovering, we're not in deep trouble, and small businesses that went under will be replaced by other small businesses as they always do. Do you think this pandemic has permanently altered the fact that people tend to buy things?

Headline from CNN

ONLY 4.8 MILLION JOBS CREATED

Now back to the real world

That is 4.8 million people who will have money in their pocket and be able to spend their earnings, Hopefully this will continue and get us back where we need to be.