7/2, 2:30 PM (Source: TeleTrader)
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US nonfarm payrolls jump by 4.8M in June

Nonfarm employment in the United States rose by 4.8 million in June as the country continued to reopen following coronavirus lockdowns, the United States Bureau of Labor Statistics (BLS) said on Thursday. Meanwhile, the unemployment rate decreased by 2.2 percentage points to 11.1%.

Both figures were significantly better than analysts had expected.

The report stressed that employment in leisure and hospitality surged significantly, while a notable number of jobs were added retail trade, education and health services, other services, manufacturing, and professional and business services. Average hourly earnings in the private sector fell by 35 cents month-over-month to $29.37 in April.

Breaking the News / NP