Jobs report is good today- 850,000 jobs. Looks like people are going back to work.

Stock market is going to like this- it's not great, but it is good. Good start for the market for the weekend.

U.S. economy added 850,000 jobs in June as labor market showed renewed strength

Source: Washington Post


U.S. economy added 850,000 jobs in June as labor market showed renewed strength

Hiring surged heading into the second half of the year.

By Eli Rosenberg
July 2, 2021 at 8:32 a.m. EDT

The U.S. economy added 850,000 jobs in June as the pace of the recovery surged -- quieting simmering fears, at least temporarily, of more lasting harm from labor and supply shortages.

The unemployment rate changed little, ticking up to 5.9 percent from 5.8 percent. (1)

The news is likely to be seen as a good sign for the economy more than one year into the pandemic, after numerous wrinkles have emerged to complicate a labor recovery many hoped would be faster at this level of vaccinations.

[The economy isn't going back to February 2020. Fundamental shifts have occurred.] (2)

Job growth in April and May, while not anemic, fell well below the hopes that more than one million jobs could be added per month in the spring. Economists surveyed by Dow Jones expected about 700,000 jobs to be added in June, as the economy continues to chip into the deficit of 7.5 million less jobs that country has filled than before the pandemic.


By Eli Rosenberg
Eli Rosenberg covers work and labor for The Washington Post. He joined The Post in 2017 after a decade in New York, where he worked at the New York Times, the Daily News, and the Brooklyn Paper. He has covered misinformation campaigns, politics in the Trump era, immigration issues, and disasters across the country. Twitter



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