U.S. economy gains 4.8 million jobs, unemployment rate falls to 11.1%

While the United States labor market showed improvements in June, it's only scratching the surface of the 22 million jobs lost from the COVID-19 pandemic.

While the United States labor market showed improvements in June, it's only scratching the surface of the 22 million jobs lost from the COVID-19 pandemic.

Associate Professor of Economics Alexander Bick and Assistant Professor of Economics Adam Blandin of the Virginia Commonwealth University School of Business offer data on labor market conditions every other week on the outbreak’s impact on the unemployment rate and labor force. U.S labor market statistics are collected once a month and published with a three-week delay. Despite this, both data sets have pros and cons.

In this story published July 2, 2020, on the NBC News Digital:

That makes it harder to predict where we’re heading, if we're going to see the recovery continue, or we see a reversal in the labor market.

– Alex Bick, associate professor of economics