The Jobs Report – June 2020

What you need to know…

1. The economy added 4.8 million jobs in June, beating the consensus estimate of 3.2 million.
2. The range of expectations was wide, 500k to 9,000k job gains, reflecting the uncertainty around this recovery. 
3. Last month’s strong report was bolstered by a 90k upward revision; the two month total job gains are an impressive 7.5 million.
4. Job gains were widespread with almost all sectors participating. The biggest increases were in Leisure & Hospitality and Retail Trade, two of the hardest hit sectors during the shutdown.
5. The unemployment rate fell from 13.3% to 11.1%, better than the 12.5% expected.

Below is a link to the full statistical summary provided by the Bureau of Labor Statistics:*

http://www.bls.gov/news.release/empsit.b.htm

*The information contained herein has been prepared from sources believed to be reliable but is not guaranteed and is not a complete summary or statement of all available data nor is it considered an offer to buy or sell any securities referred to herein. Links included herein are to unaffiliated third party sites. The Firm cannot verify or guarantee the accuracy of any information presented therein. By clicking on these links, the reader understands and acknowledges they are leaving Ziegler Capital Management’s web page.