New Jobs Report Says 4.8M Jobs Created In June, Unemployment Rate Drops 2.2%
The Labor Department released the official jobs numbers on Thursday that show the economy received a boost in created jobs with a fantastic 4.8 million popping up on the scene which led to a 2.2 percent fall in the unemployment rate. The unemployment rate was 13.3 percent and now it’s 11.1 percent as the country continues to recover, economically, from the shutdowns caused by the coronavirus pandemic.
No doubt President Trump is extremely pleased with these numbers, and he should be. Unfortunately, it seems some states that have been reopening have experienced an uptick in new coronavirus cases. Hopefully, state governors don’t freak out about this and end up shutting down again and causing a massive blowout of the economy again. Our nation can’t handle that right now.
Here’s more from The Daily Wire:
“These improvements in the labor market reflected the continued resumption of economic activity that had been curtailed in March and April due to the coronavirus (COVID-19) pandemic and efforts to contain it,” the Bureau of Labor Statistics said in a statement. “In June, employment in leisure and hospitality rose sharply. Notable job gains also occurred in retail trade, education and health services, other services, manufacturing, and professional and business services.”
According to the report, black unemployment dropped from 16.8% to 15.4% and Latino unemployment dropped from 17.6% to 14.5%.
“We’re in the beginning of a slow recovery,” Marianne Wanamaker, a labor economist at the University of Tennessee, told The Wall Street Journal. “I think the recovery will stall out if we don’t get control of the virus.”
Well, we might not like to have to abide by the social distancing guidelines right now, but it looks like we ought to get on board with it, to some degree, so we can prevent more spikes in active cases and ensure we don’t give the left any more justification for shutting things down right in the middle of this awesome recovery.
That doesn’t mean make masks mandatory, but it does mean we should all at least consider the possibility that wearing one might be helpful. If nothing else, at least trying to keep out of large crowds and keep our distance from each other in a reasonable fashion. Just something worth thinking about.