America added 4.8 million jobs in June—the largest monthly increase ever recorded, according to Thursday’s report from the Bureau of Labor Statistics.
With 7.5 million jobs added over the past two months, America’s economic comeback from the Coronavirus is taking off well ahead of schedule.
🎬 President Trump: Today’s report is “spectacular news” for America
“There’s not been anything like this—record setting,” President Trump said at a press briefing this morning. “We’ve implemented an aggressive strategy to vanquish and kill the virus, and protect Americans at the highest risk, while allowing those at lower risk to return safely to work. That’s what’s happening.”
After May and June ranked as the two largest monthly jobs gains in history, an estimated one-third of all job losses from March and April have now been recovered.
“Our work won’t be done until every single American who lost their job because of COVID gets back to work,” Treasury Secretary Steven Mnuchin said today.
June’s job gains were spread broadly across American industries, with the hard-hit leisure and hospitality sector seeing the biggest turnaround:
- 2.1 million leisure & hospitality jobs
- 740,000 retail jobs
- 568,000 education & healthcare jobs
- 357,000 service jobs
- 356,000 manufacturing jobs
The Great American Comeback is reducing unemployment for a number of historically marginalized groups, too. African-American workers saw historic gains with more than 400,000 jobs added last month. Hispanic-American employment is up by 1.5 million, and the unemployment rate for women fell even quicker than the rate for men.
On top of that, “workers with a high school education or less made the biggest strides of all,” President Trump said.
There is more work to do in the months ahead as we rebuild the strongest economy on Earth together. The incredible, expectations-busting jobs reports in May and June, however, should give every American hope that we’re heading toward a bright future.
🎬 President Trump: Stock market is soaring with best gains in 20 years
READ: A Record 4.8 Million Jobs Created in June