U.S. Payrolls Rise by 4.8 Million in June as Claims Remain Elevated

The video discusses the increase in nonfarm payrolls by 4.8 million, surpassing the consensus estimate. The unemployment rate fell to 11.1% but would be higher if misclassification errors were corrected. Average weekly hours and earnings saw declines. Minority unemployment rates decreased but remain high. Job gains were significant in services, leisure, and hospitality, with government jobs showing minor changes. Concerns are raised about future employment due to potential state reclosures.

What was the actual change in nonfarm payrolls compared to the consensus estimate?

• 5,000,000 compared to 4,000,000

• 4,000,000 compared to 5,000,000

• 3,230,000 compared to 4,800,000

• 4,800,000 compared to 3,230,000

How would the unemployment rate have changed if misclassification errors were corrected?

• It would have been 13.1%

• It would have been 12.1%

• It would have been 10.1%

• It would have been 11.1%

What was the unemployment rate for Black or African American individuals?

• 17.6%

• 14.5%

• 15.4%

• 16.8%

Which job category saw the largest increase in jobs?

• Construction

• Service jobs

• Mining and logging

• Manufacturing

What was the change in government jobs in June?

• Gained 533,000 jobs

• Lost 533,000 jobs

• Gained 33,000 jobs

• Lost 33,000 jobs