Jobs Up Again, Too Much Uncertainty from Reopening Rollback, Spread of the Virus Still What Matters

Labor market statistics released this morning show that nonfarm payrolls rose by a much higher number than expected at 4.8 million, compared to the 2.9 million consensus forecast. The unemployment level fell to 11.1% from 12.4%.

In a related jobs market release, we saw that initial weekly jobless claims dropped for the thirteenth week in a row and were 1.427 million for the week ending June 27, higher than the 1.38 million consensus forecast. Continuing claims were 19.290 million for the week ending June 20.

Download the full article

Read more Municipal Commentary