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.
- 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.



