U.S. unemployment rate on the decline
Payrolls rose by 4.8 million in the month of June, far higher than analysts expected. This brings the U.S. unemployment rate down to 11.1 percent.
This is the second month in a row we have seen a lower unemployment rate, but still far above the historic lows of 3.5 percent we saw earlier this year.
The news comes as unemployment lines across the country are growing as people who have applied for unemployment still haven’t heard back from unemployment offices.
Some analysts caution against too much optimism. They say these numbers have come slightly before the nation started seeing coronavirus cases spiking in many areas of the country.