4.8 Million Jobs Added to US Economy in June

4.8 Million Jobs Added to US Economy in June

4.8 Million Jobs Added to US Economy in June The data was released by the Department of Labor on Thursday.

It reveals the unemployment rate fell to 11.1 percent in June.

Analysts were cautious in responding to the massive addition of jobs, saying that the U.S. economy has a long way to go in terms of recovery.

Dan North, Euler Hermes North America, via NBC News The data also does not reflect the recent spike of COVID-19 cases in states such as CA, AZ, TX and FL.

Many business reopenings have been paused.

Bars, theaters and gyms have been ordered to shut down again in several parts of the country.

Despite the positive monthly numbers for June, separate weekly data revealed that 1.427 million Americans also applied for first-time unemployment benefits last week.

Because of the current crisis, economists say they cannot accurately gauge the health of the U.S. economy.

Alexander Bick, ASU, via NBC News