For a second month in a row, the U.S. economy gained a record number of jobs.
Following job gains of 2.7 million in May, the economy added 4.8 million more jobs in June.
And even as the labor force grew by 1.7 million workers, the unemployment rate fell by 2.2 percentage points, from 13.3% to 11.1%.
While unemployment is still high, the faster-than-expected turnaround and record gains show the resiliency of the American economy and prove that this is not another Great Recession.
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Younger Workers Report Biggest Gains in Happiness With Pay
The share of American workers satisfied with their paychecks rose last year, and “the biggest leap came from millennials and Generation Z, whose enthusiasm for their compensation shot from 36% in 2017 to nearly 46% a year later,” Lauren Weber reports for The Wall Street Journal.
“In all, nearly 54% of U.S. workers said they were satisfied with their jobs in 2018, the highest share reported in more than two decades.”