PRESIDENT DONALD TRUMP: "THE LARGEST JOBS GAIN IN THE HISTORY OF OUR COUNTRY"

Residents wait in long lines outside the Kentucky Career Center for help with their unemployment claims on June 19, 2020 in Frankfort, Ky.

     

The United States economy gains 4.8 million jobs and the unemployment rate falls to 11.1 percent.

The June data, released Thursday by the Bureau of Labor Statistics reflects that the labor market is slowly recovering.

Trump praised the 356,000 manufacturing gains and said they were due to the country's great trade policy. 

Despite this, the economy is still a long way from returning to normal.

UNEMPLOYMENT RATE OF UNITED STATES, 1948 - 2020

“We’ve seen that curve going down but we’re still at previously astronomical levels,” said Dan North, senior economist at Euler Hermes North America. “The long-term average before this crisis was around 350,000, so we’re at four times the long-term average and more importantly, it’s flattening out,” he said.

This is the third time in the last 70 years the unemployment rate has touched 10 percent.

                          

REFERENCES

White, M. C. (02 de Julio de 2020). U.S. economy gains 4.8 million jobs, unemployment rate falls to 11.1 percent. Recuperado el 02 de julio de 2020, de NBC News: shorturl.at/agkGT.

This article has been written by BECERRA Abril, CONTE Pilar and MARTÍNEZ Florencia.