'It remains too difficult to call this trend with any real confidence as we continue to see-saw between lockdown tightening and lockdown loosening,' Shane Balkham of Beaufort Investment, said in a note.
About 2.7 million jobs were added in May and 4.8 million positions were added in June -- both a record. However, they came after an unprecedented 22.2 million job losses in March and April.
The further reopening of the economy in June ushered back more temporarily laid off workers. The job gains were concentrated in industries that have been hammered by the pandemic, including leisure and hospitality, health care and retail. Economists have attributed the burst in job gains to the government’s Paycheck Protection Program that provided small businesses loans that cover eight weeks of wages and other expenses. But the exhaustion of those loans threatens to lead to another wave of layoffs, economists caution.
France Dernières Nouvelles, France Actualités
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