July 2, 2021

Things are picking up.

Economist Nick Bunker, Indeed Hiring Labs, on the better than expected jobs report for June.
  • The U.S. economy created 850,000 jobs in June – better than the approx. 700,000 economist forecast.
  • This reflects the highest job growth in nearly a year.
  • Many of the jobs added/returning were in service related industries – such as restaurants.
  • Perspective: The economy is still short nearly 6 million jobs from February 2020, before the pandemic led to shutdowns and restrictions. The unemployment rate in America was 3.5% – now it is 5.9%.
  • Why This Matters: This new data shows encouraging job growth, potentially a hopeful sign of a quicker pace of economic recovery. This follows a disappointing jobs report for May. The pace of job growth matters to the economy overall – What we'll watch for? What the pace looks like over the next 3-4 months.

This is solid, easy read on the job market and the economy: U.S. gains 850,000 new jobs in June in sign of strength for the economy

Here's the actual jobs report from the U.S. government.

by Jenna Lee,