Sunday, July 5, 2020

June Jobs Report Positive for U.S. Workers

The effect of President Trump's Paycheck Protection Program are producing positively for American workers.

The United States economy added 4.8 million jobs in June.  This includes 356,000 manufacturing jobs and 158,000 construction jobs.  Clearly, this isn't just restaurants and retail re-opening.

The Labor Participation Rate increased .7% to 61.5% and wages increased 5% year over year in June.

Demographically, the June jobs report showed an added 404,000 for Black Americans, dropping the Black unemployment rate by 1.4%.  Hispanic Americans fared better, with 1.47 million jobs added and Hispanic unemployment falling 3.1%.  Women also saw unemployment fall 2.8%.

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