U.S. Economy Created A Record 4.8 Million Jobs In June
By Bill Galluccio
July 2, 2020
The United States created a record 4.8 million jobs in June as the economy continues to recover from the coronavirus pandemic that caused the global economy to grind to a halt. The unemployment rate fell to 11.1%.
June marked the second straight month of job growth after more than 20 million people lost their jobs in March and April as states ordered businesses to close in an attempt to slow the spread of the coronavirus.
The numbers beat the expectations of many economists who were predicting an increase of 3 million jobs and an unemployment rate of 12.3%.
President Donald Trump touted the "historic numbers" and said that that "our economy is roaring back."
"These are numbers that are not numbers other presidents would have," Trump said. "The only thing that can kill it is a bad president or a president that wants to raise taxes. You want to raise taxes, this whole thing, your 401Ks will drop down to nothing, and your stock market will drop down to nothing."
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