Thursday 13 August 2020
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wn.com - 1 month ago

A predicted surge in US job growth for June might not last

WASHINGTON (AP) — U.S. employers likely rehired several million more workers in June, thereby reducing a Depression-level unemployment rate, but the most up-to-date data suggests that a resurgent coronavirus will limit further gains. Economists have forecast that businesses, governments and nonprofits added 3 million jobs — a record high — and that the unemployment rate fell a full percentage point to 12.3%, according to data provider FactSet. The predicted hiring gain would be up from 2.5 million jobs in May. Even so, the combined job growth for May and June would recover only a fraction of the 22 million jobs that were lost in March and April, when the virus forced business shutdowns and...


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