AMAC in the Media

US Economy Rebounds in June with Record Jobs Numbers

Posted on Thursday, July 2, 2020
The Association of Mature American Citizens

Trump record

  • The U.S. economy added an incredible 4.8 million jobs in June, the largest monthly increase ever recorded.
    • The economy smashed expectations once again, beating estimates by 1.7 million jobs.
    • Nearly 2.1 million leisure and hospitality, 740,000 retail, 356,000 manufacturing, and 158,000 construction jobs were added over the month.
    • The number of jobs created in May was revised up another 190,000 jobs to 2.7 million jobs.
  • The unemployment rate fell to 11.1 percent from 13.3 percent as millions of Americans got back to work, once again beating economists’ predictions.
    • The unemployment rate fell 1.4 percentage points more than predicted.
  • An astounding 7.5 million jobs have been added over the past two months, as we begin to reverse the job losses caused by coronavirus.

Lifting Up All Americans

  • Americans of all backgrounds saw huge gains in June as the great American comeback continues.
  • Unemployment rates for Hispanic-Americans fell by 3.1 percentage points, women by 2.8 percentage points, and African-Americans by 1.4 percentage points.
  • African American employment rose by 404,000 – the second largest gain on record.
    • The number of African-American women employed increased by 267,000, the largest gain on record.
  • The unemployment rate for Americans with a high school degree and no college dropped 3.2 percentage points.
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