BREAKING: The U.S. economy added 4.8 million jobs in June, with the unemployment rate falling to 11.1%.
Nonfarm payrolls jumped by 4.8 million in June and the unemployment rate fell to 11.1% as the U.S. continued its reopening from the coronavirus pandemic, the Labor Department said Thursday.
The numbers capture the move by all 50 states to get activity moving again after the virus seized up much of the U.S., particularly service-related industries. Leisure and hospitality again accounted for the biggest jump, as the sector saw a 2.1 million gain, accounting for about 40% of the total growth.
The unemployment rate also likely is understated due to counting errors at the Bureau of Labor Statistics. Workers who still have jobs but have not been working are being counted as employed and even though as supposed to be considered unemployed under BLS rules.
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