This article appeared online at TheNewAmerican.com on Thursday, July 2, 2020:
The U.S. economy, recovering from the government-mandated lockdowns to limit the spread of the COVID-19 virus, rebounded sharply in June, exceeding forecasters’ expectations and confirming yesterday’s report from ADP.
According to the Labor Department, the economy generated nearly five million jobs in June, as those mandates lifted and restaurants and bars reopened. The unemployment rate dropped to 11 percent, down two percent from May and nearly half what it was in April.
Economists polled by Reuters had forecast payrolls increasing by three million jobs.
The government reported that