With several states moving to end the lockdowns associated with the Coronavirus, economists have been caught off guard by how quickly the American economy is coming back.
Economists were expecting three million jobs to be added in June instead it ended up being 4.8 million.
The U.S. economy added 4.8 million jobs in June and the unemployment rate fell to 11.1 percent, both better than expected.
The economy has added around 7.3 million jobs in the past two months. The increase in the ranks of employed workers shows that companies ramped up hiring as the economy reopened and consumers came back to stores, restaurants, and other businesses that had been shuttered in March and April.
READ: Blowout: The U.S. Economy Added 4.8 Million Jobs in June, Unemployment Fell to 11.1%