June Jobs Numbers Beat Expectations
by Bill Flores on July 20, 2020 at 9:21 AM
Earlier this month, the Department of Labor announced that the economy added an astounding 4.8 million jobs in the month of June, shattering economists’ expectations. This was the largest monthly jobs gain in the history of our country and the unemployment rate fell by more than 2 percentage points. This growth is a strong indicator of a resilient economy. The last two months of positive job numbers also highlight the importance of the Paycheck Protection Program in creating stability for small business job creators. These loans have supported more than 51 million jobs and helped over 80 percent of all small business employees.
Reopening the economy in a safe and responsible manner is important for the millions of Americans who have been affected by the Coronavirus. In the last two months, the economy has added 7.5 million jobs, showing positive trends. States and businesses must continue to work together to continue reopening the economy safely.