Record-Setting Job Gains of 4.8 Million in June During Partial Economic Reopening….

Most “experts” had been forecasting around 2.5 million jobs recovered in June; however, payrolls rose by 4.8 million, far exceeding expectations.  The Bureau of Labor Statistics report [Available Here] shows job recovery across-the-board, with a major bounce back in the leisure and hospitality sector gaining 2.1 million jobs.

The June jobs growth of 4.8 million was a big leap from the 2.7 million in May.  Notably the May report was also revised upward by 190,000.  The June result is easily the largest single-month for job gains in U.S. history.

Topline Data:

  • In June, employment in leisure and hospitality increased by 2.1 million, accounting for about two-fifths of the gain in total nonfarm employment.
  • In June, employment in retail trade rose by 740,000, after a gain of 372,000 in May.
  • Employment increased by 568,000 in education and health services in June.
  • Employment increased in the other services industry in June (+357,000), with about three-fourths of the increase occurring in personal and laundry services (+264,000).
  • In June, manufacturing employment rose by 356,000.
  • Construction employment increased by 158,000 in June, following a gain of 453,000 in May.

Overall the jobs result shows the U.S. economy is coiled like a spring… compressed by the COVID-19 shutdown, yet waiting to release and bounce back quickly.   The underlying economic activity is waiting to explode as U.S. consumers have not spent trillions in income earnings due to the shutdown.

Once the economy is re-opened, there will be extremely rapid economic growth as a result of pent-up demand.  The key is just doing it…. just opening.

(Via CNBC) Nonfarm payrolls soared by 4.8 million in June and the unemployment rate fell to 11.1% as the U.S. continued its reopening from the coronavirus pandemic, the Labor Department said Thursday.

Economists surveyed by Dow Jones had been expecting a 2.9 million increase and a jobless rate of 12.4%. The report was released a day earlier than usual due to the July Fourth holiday.

[…] “Today’s announcement proves that our economy is roaring back. It’s coming back extremely strong,” President Donald Trump said in a news conference about an hour after the numbers were released. He pointed specifically to a sharp drop in the unemployment for Blacks that fell from 16.8% to 15.4%. “These are historic numbers.”  (read more)

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64 Responses to Record-Setting Job Gains of 4.8 Million in June During Partial Economic Reopening….

  1. delighteddeplorable says:

    Two words: Awe. Some.

    Liked by 9 people

  2. delighteddeplorable says:

    Liked by 15 people

  3. tax2much says:

    The underlying economy was great and will return very quickly. President Trump has been setting us up for huge success from Day 1. The entire corrupt uniparty has not been able to stop him. God Bless President Trump.

    Liked by 12 people

  4. helmhood says:

    The fact that they continue to underestimate President Trump and the American people, is why the media/political left are losing.

    I can see lots of melting snowflakes in November.

    Liked by 8 people

    • GB Bari says:

      Only if 68-70 million Americans get out and vote straight “R” down the ballot beginning at the top with re-electing President Trump. That includes all of us and everyone we know and can persuade to understand and trust our knowledge of the good for everyone that will result.

      Liked by 3 people

      • helmhood says:

        Yes, looking forward to it. My whole family, co-workers are all voting Trump. He won’t win my state, but I am at least going to send one of the biggest supporters of the President and his policies back to congress.

        Liked by 1 person

  5. Publius2016 says:

    Just the reason California Dictator closes shop…just the reason Pennsylvania and Michigan continue INSANITY!

    Its called “herd immunity” fools…unfortunately, some have to catch it so it will disappear…btw is it me or will we find out that this thing is contagious over and over again…and the only thing that really works is good clean living, the sun and prayer?

    Liked by 4 people

    • Rob says:

      problem is Trump is sacrificing his voters and decent people and not standing up to protect our rights. He and his administration do little to nothing to check the tyranny of democrat governors and mayors. Its not ok. There are plenty of good people even in blue cities and states and blue cities within red states that he should make some real effort to protect. There are civil rights laws on the federal codes that he could enforce and prosecute. He absolutely refuses to prosecute any democrat. In fact he is more likely to pardon a democrat than a republican. That is proven fact. Just like the guy that tried to sell a barry’s senate seat. Who let Fauci control the narrative? Who hired Mattis and Kelly and Bolton??? And sessions. and Rosenstein? Who kept comey for 4 months?

      Frustrated.

      Like

      • Publius2016 says:

        This is War against an invisible enemy: Gloablist Uniparty Deep State Think Tank Black Ops!

        2020 is Everything!!

        Liked by 2 people

      • hocuspocus13 says:

        Rob darling

        Let the DemoKKKrat Govs Mayors and their Constituents 🔥 🔥 🔥

        We’ll pick up the ashes when it burns itself out 🇺🇸

        Liked by 3 people

      • FrankieZee says:

        Should call you DEBBIE DOWNER. Maybe you can run Trump’s campaign since you have all the answers.

        Liked by 1 person

      • GB Bari says:

        Sorry Rob we don’t have an Emperor or Supreme Ruler in this country.

        The President is limited by the Constitution Article II and laws passed by Congress, signed by previous presidents, and not overturned by the courts as to what the President can command be done.

        The 10th Amendment gives states powers that are not otherwise specifically granted to the federal government by the Constitution.

        The federal government cannot override the states unless and until there is a national emergency (National Emergencies Act of 1976). And that Act did not specify the nature of the emergency that can justify the President’s (or Congress’s) declaration of an emergency.

        For details on what powers are granted per that Act, see here:
        (NOTE: to use this link, eliminate the space just before the ‘pdf’ at the end)

        https://www.brennancenter.org/sites/default/files/2019-10/AGuideToEmergencyPowersAndTheirUse_2.13.19. pdf

        Liked by 3 people

      • J says:

        Go away. We see through your lies and fake concern. Just go away and vote Biden. Im sure he will save you.

        Liked by 2 people

      • woodstuff says:

        Your comment has been approved by CNN.

        Liked by 2 people

  6. Big Bubba says:

    A much needed substantive boost that can counter all the chaos against Trump!

    Liked by 4 people

  7. Mike in a Truck says:

    PelosiSchiffNadlerBidenMitch:”There goes our plans”

    Liked by 6 people

  8. suburbanwoman says:

    I can personally attest to the fact that things are on a big upswing! My business rose back to normal numbers in the month of June! Hallelujah! Praise the Lord! Thank ya, Jesus, PDJT and Americans that are determined to bring it all back!!!

    Liked by 17 people

    • hocuspocus13 says:

      …and to all those jackass Govs that have their American Citizens STILL on lock down… DropDead!
      🇺🇸
      Welcome Americans to the Jersey Shore
      🍺🍔🍷🍕🍸🍝🍺🍦🍸🍤🍹🍟🍷🍗

      Liked by 2 people

  9. coldanger says:

    PT should do ads in the failing dem states showing how quickly the re-opened states rebounded. Then with a big smile, tell them they too can enjoy prosperity if they just cross the aisle. Let’s have a yuge Dexit, Dem exit, in 2020…

    Liked by 5 people

  10. rmramerica says:

    You won’t see a real rock’in and a roll’in economy until the face masks come off. Need the Trump economy fully, completely, back on board (before Dem Governors and city mayors destroy it all).

    Like

  11. Marcia says:

    Retired Magistrate here: All I know is real estate sales here in Delaware County, Ohio are doing very well. Houses that are priced fairly sell within a week. We get e mails several times a week wanting to know if we want to sell our house. All of the small businesses we do business with are back up and running almost as well as before the panicdemic.

    By the way, Ohio is a red state (rural areas) with a purple governor (DeWine) with blue cities. We rural folk were able to carry President Trump to a 8 point win in 2016. I am praying we will do it again.

    Liked by 15 people

  12. kneejerkreactionary says:

    Now we understand why the demonrats and the creep staters have been pushing the rise in Chinese Virus Cases. Screw them! I am going to enjoy my 4th.

    Liked by 4 people

    • MVW says:

      It is bad news for the Demoncrats that the case number of China Communist Virus has surged as this is what MUST happen to immunize America. Death rate and death count is the real issue and both are lowering to low.

      Let the American (Chinese Communist) Media beat their kitchen pots and pans, whine and whinge and be the little boy warning ‘WOLF!’

      Liked by 1 person

    • vikingmom says:

      Yes, and their very willing accomplices in the MSM are pushing the “second wave” “huge spike in cases” etc storyline for all they are worth! It’s a desperate Hail Mary attempt to re-crash the economy…not sure HOW it will turn out because Conservatives in Blue States have been screaming about the deception for weeks and no one is listening!

      Paging Bill Barr – whatever happened to all of those promises you made about going after Governors who were violating the Constitutional rights of their citizens? I know that people here in Washington State have been calling and emailing you and no one that I know has gotten a single response!! Our Legislature has been in recess since March and will not even respond to constituent requests for a special session, even though one is definitely needed to address our idiot Governor and his illegal “mandates”!

      Like

  13. TJ says:

    “The key is just doing it”

    This is transparently political, CDC is just another partisan political faction, like Dirty Wray and the Kneelers.

    US oligarchs are doing whatever it takes to stop the opening from happening. It’s a con job.

    Bill Gates laughs at economic collapse

    Liked by 1 person

  14. Magabear says:

    “Once the economy is re-opened, there will be extremely rapid economic growth as a result of pent-up demand. The key is just doing it…. just opening.”

    And this is why demonrat Governors/dictators are slamming on the breaks once again. The longer they can keep the fear porn going, the longer they can keep the economy from exploding upwards.

    Liked by 1 person

    • J says:

      And now they are counting colds caused by a similar coronavirus as covid 19 WuFlu. The incentive to falsely inflate WuFlu numbers by discharge administrators is overwhelming. Hospitals have lost billions upon billions of dollars due to the fake hysteria over a flu-like virus and are recouping their loses through the extra money they gain for treating WuFlu. Its all a lie. Im sure most here have heard the Texas Doctor who runs the large ER chains comments on this.

      Everything since May 1st concerning WuFlu in the CommieMedia is a complete lie. I will not comply. I will not wear a mask, I will not participate in contact tracing and I will not be vaccinated. They can all FOAD.

      This doesnt end until we end it. November 3rd is our last chance at the ballot box. My powder is dry for the inevitability that this will take the cartridge box.

      Dont Tread on Me.

      Liked by 2 people

  15. ltravisjr says:

    YES. Keep. It. Going. Do not let the Dems think they will be able to inherit a shambles of an economy that could do nothing *but* go up and that they could take easy credit for regardless of what they do. No, let them think they are going to have to inherit a spiking red hot economy if they were lucky enough to win.

    Like

  16. Dutchman says:

    Proof positive;
    Economic Security is NATIONAL Security.
    While technically the WHO-FLU was a “bioweopon” it was deployed very much as an ECONOMIC weopon.

    The deaths, per se were incidental. It was deployed to do EXACTLY what it did; shut down the U.S. Economy.

    Imagine if it had been deployed 6 years ago, during the Bush Obama economic doldrums, where 1% growth was “the new normoal, so get used to a ‘service economy’.

    With a lackluster economy, the virus would have been an economy killer, regardless who was POTUS.

    PDJT’s efforts to build the economy, effectively immunised us against the severest economic hit in our history.

    Our economy is the Nations ‘immune system’, and he and his Wolverines spent 3 1/2 years, focused on building up that immune system, in order to enable it to withstand such a severe economic attack.

    And sure, the enemies of PDJT and us are doing everything they can, to try to suppress the economic rebound, in order to hurt his reelection.

    Here again, the economy is just too strong to be held back, even with all they are trying to do. Its like one man trying to hold a freightrain still on the ttacks. Ain’t gonna work.

    Liked by 2 people

  17. The American Patriot says:

    AND GUESS WHAT…….

    The Demosocialistscrats are PISSED!

    They are calling for a protest of spending money on Independence Day to crash the economy.

    “Sore losers” have taken another definition.

    Liked by 1 person

  18. refinedheathen says:

    I’m really not tired of winning.

    Liked by 1 person

  19. thedoc00 says:

    The one unsettling aspect of this great news is the VIX Index. Within the space of about 6 weeks, it fell from a high of 85 to current level of 28. Before the Wuhan Hoax, the norm hovered between 10 to 20. Whip-sawing volatility is how the big money guys cause damage and stampede the little fish in the market. For awhile it seemed a VIX between 35-45 was the “panic sweet spot”. Scared the heck out for the little fish, caused lots of damage and also allowed profit taking for the big fish.

    Just hope this is not profit taking by the big fish before another big plunge before elections.

    Like

  20. Dwayne Diesel says:

    We didn’t need a report to tell us things were looking good- as soon as they started crying “spike” and need to scale back you k ew the re-opening was doing good. News gave it away.

    Like

  21. Dwayne Diesel says:

    We didn’t need a report to tell us things were looking good- as soon as they started crying “spike” and need to scale back you k ew the re-opening was doing good. News gave it away.

    Like

  22. dm says:

    Suggest the following complementary addition. ADP revised UPWARDS its jobs change # for May:-) The revised # is NOW a 3.1 million GAIN!! The initial # was a 2.76 million DROP. That will make Demoncrats weep, and demand ADP get back on the plantation.

    Like

  23. paulashley says:

    Dem governors be like: “Shut down! The hospitals are overwhelmed!”.

    Like

  24. P says:

    Liked by 1 person

  25. Maquis says:

    Bounce Back Bigly

    Like

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