Market to Market

Economic Outlook: July 2, 2020

Jul 2, 2020  | Ep4546

The government’s monthly report revealed 4.8 million jobs were generated in June, the biggest increase since 1939.

However, total employment was down 14.7 million from February’s pre-pandemic peak.

The unemployment rate declined to 11.1 percent, an improvement over last month. 

The overall labor snapshot may be outdated already as the survey was conducted the second week of June, just as the number of positive COVID-19 tests started to increase, leading to some states putting the brakes on re-opening. 

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