TSP Talk Blog

Record jobs gain of 4.8 million in June smashes expectations; unemployment rate falls to 11.1%

Nonfarm payrolls rose by 4.8 million in June, much better than the expected increase of 2.9 million.

The unemployment rate fell to a crisis low of 11.1%, also better than the 12.4% estimate.

CNBC: https://www.cnbc.com/2020/07/02/jobs...june-2020.html

Stocks were mixed on the first trading day in July, and the first day of the third quarter. The bulls took over after a flattish open, but there was some selling late in the day to take the indices off their highs. The Dow lost 78-points while the broader indices posted modest gains. Small caps lagged with the Russell 2000 losing about 1% on the day, but our S-fund clung to a small gain, thanks to midcaps having a decent day.

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