U.S. ADDED NEARLY 5 MILLION JOBS IN JUNE, BUT VIRUS LOOMS LARGE

WASHINGTON-  U.S. payrolls grew by 4.8 million in June, the Labor Department said Thursday. It was the second month of gains after a loss of more than 20 million in April, when the pandemic put a large swath of economic activity on ice.

The unemployment rate fell to 11.1 percent, down from a peak of 14.7 percent in April but still higher than in any previous period since World War II. The rate would have been about one percentage point higher had it not been for persistent data-collection problems, the Labor Department said.

There were still nearly 15 million fewer jobs in June than in February, before the pandemic forced businesses to close. And the survey was compiled in mid-June, before coronavirus cases began to spike in Arizona, Florida and several other states. Economists fear that layoffs could accelerate now that California, Texas and other states have begun ordering some businesses to close anew. 

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