Unemployment Rate Drops to 11.1% in June, Past Expectations with 4.8M Added

The U.S. unemployment rate dropped to 11.1 percent in June as businesses shuttered by the coronavirus pandemic earlier this year rehired millions of idled workers.

The Labor Department said in its report, released on Thursday because of the Fourth of July holiday, that employers added 4.8 million jobs in June — the biggest increase on record. Economists surveyed by Refinitiv expected the report, to show that unemployment dropped to 12.3 percent and that employers added 3 million jobs.

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