Millions of people have returned to work during June in the United States. The leisure and hospitality sector had a 2.1 million increase in new positions. As a whole, the US job market took a giant leap from the 2.7 million positions in May to 4.8 million in June. Unemployment decreased to 11.1 percent as America continued reopening from the COVID-19 pandemic lockdowns.
All 50 states are experiencing activity after the pandemic shut most of the United States. Economists all around the US expected a 2.9 million increase and an unemployment rate of 12.4 percent. June was by far the largest single month gain in American history.
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Positive Data from the USA during June
Decline in Unemployment
Wall Street had a positive reaction to the upswing in the US job market with a gain of over 400 points. Capital Economics economist Michael Pearce said the increase in new hires is confirmation that the economy is rebounding much faster than anyone anticipated. Another large factor in the decline in unemployment is temporary layoffs. There are many job opportunities around the world.
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