Economy “Roaring Back” With Largest Monthly Jobs Gain In U.S. History; Increase of Nearly 5 Million Jobs, Unemployment Dropped to 11.1%

WASHINGTON, D.C. – The latest jobs numbers released this morning through the end of June were massive. There was an increase of nearly 5 Million jobs (4.8 million jobs), the largest monthly gain in the history of this country smashing expectations. The unemployment rate also dropped to 11.1%, more than two points lower than May’s 13.3% June marks the second-consecutive month of growth after more than 20 million jobs were lost in April during the coronavirus lockdown.

Over the past month, every state has started to implement their reopening strategies, however, it remains expected that with recent elevated social distancing guidelines, particularly with hard hit states such as Florida, Texas and New York, many governors will tread extremely lightly as they fight a resurgence in COVID-19 cases. In fact, at least 21 states have even paused their reopening.

Our economy is roaring back, President Trump told reporters in the White House briefing room. “It’s coming back extremely strong. This is not just luck, what’s happening. This is a lot of talent,” Trump said.

Dispelling the uplifting news, Former Vice President Joe Biden said the economy will remain in dire straits until Trump ‘faces what’s going on in this country.’

“Until this president faces what’s going on in this country, the economy will remain at risk,” said Biden. “Today’s report is positive news, and I’m thankful for it. But make no mistake: we’re still in a deep, deep job hole because Donald Trump has so badly bungled the response to the coronavirus.”


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