US Gains 4.8 Mn Jobs As Unemployment Falls To 11.1%
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2020-07-02 HKT 21:51
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The US economy regained 4.8 million jobs in June as businesses began to reopen nationwide, while the unemployment rate fell more than two points to 11.1 percent, the Labour Department reported on Thursday.
The job creation was far higher than economists were expecting, and showed the rapid pace of gains as people who were laid off returned to their jobs, especially in hard-hit sectors like leisure and hospitality.
But a separate Labour Department report showed job losses continued, as 1.43 million people filed initial claims for unemployment benefits last week as coronavirus cases surged. That forced some states to put the reopening of their economies on pause. (AFP)
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