Record jobs gain of 4.8 million in June smashes expectations; unemployment rate falls to 11.1%

ECONOMY

Record jobs gain of 4.8 million in June smashes expectations; unemployment rate falls to 11.1%

PUBLISHED THU, JUL 2 20208:30 AM EDTUPDATED 2 MIN AGOJeff Cox@JEFF.COX.7528@JEFFCOXCNBCCOMKEY POINTS

  • Nonfarm payrolls rose by 4.8 million in June, much better than the expected increase of 2.9 million.
  • The unemployment rate fell to a crisis low of 11.1%, also better than the 12.4% estimate.
  • Those on temporary layoff fell by 4.8 million in June to 10.6 million after a decrease of 2.7 million in May.

WATCH NOWVIDEO01:55U.S. economy adds 4.8 million jobs in June, vs expected increase of 2.9 million

Nonfarm payrolls jumped by 4.8 million in June and the unemployment rate fell to 11.1% as the U.S. co

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