CNBC: Job gain of 4.8 million in June smashes expectations; unemployment rate falls to 11.1%
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.
While this is positive news, it doesn’t account for the recent rollbacks and closures in several states.
BREAKING: June nonfarm payroll add 4.8M jobs, far higher than consensus estimates of +2.9M. Unemployment rate is 11.1%, sending futures higher. pic.twitter.com/6TFbBEg6ye
— Squawk Box (@SquawkCNBC) July 2, 2020
