Trump's Economy Adds 4.8 Million Jobs as Unemployment Plummets to 11.1% in June
The increase in employment reflected companies push to ramp up hiring
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4.8 million jobs were added to the US economy in June while the unemployment rate fell to 11.1 percent in an unexpected turn amid the damaging economic effects of coronavirus pandemic.
Around 7.3 million jobs have been added in the last two months.
The increase in employment reflected companies push to ramp up hiring as the economy gradually reopens, and consumers return to businesses that had been shuttered in March and April.
Meanwhile, restaurants and bars also saw strong job growth, with 1.5 million added, according to the Labor Department.
However, employment remains 3.1 million below February’s level, the month before COVID-19 struck the US economy.
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There were also significant gains in retail stores with 740,000.
Employment in manufacturing also rose by 356,000 but is down by 757,000 since February.
The auto sector also added 196,000 jobs, while construction employment increased by 158,000 in June after a 453,000 gain in May.
The employment gains came as much rioters and looting plagued the country amid the Black Lives Matter protests, which broke out following the death of George Floyd.
But the employment gains are still lower than February, with tens of millions fewer Americans working.
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There are currently 12.957 million fewer jobs in the U.S compared with last year.
Last month, the Labor Department said another 1.8 million Americans made first-time claims for unemployment benefits, pushing those who had lost their job due to the coronavirus to 42 million.
President Donald Trump predicted in April that the US economy would have a "big bounce" back after suffering from the coronavirus crisis.
The President expressed confidence the economy would come back from the drubbing it had taken from the lockdown.
During the daily White House news briefing by the coronavirus task force, Trump said:
“The economy is just going to do very well."
