Just The News: New numbers exceed prediction of 3 million
The U.S. added 4.8 million jobs during the month of June, the Bureau of Labor Statistics reported Thursday. The unemployment rate fell to 11.1%.
The jobs figure exceeds the 3 million estimate from economists.
The increase in jobs comes as businesses begin rehiring following the height of the coronavirus pandemic in April and May.
The unemployment rate also dropped more than expected. The Dow Jones predicted that it would fall to 12.4% in June. It was 13.3% in May.
Also released this morning were the weekly jobless claims, which showed that 1.43 million Americans filed for first time unemployment benefits last week. This number was slightly higher than the expected 1.38 million. more