The new jobs report is out.
The U.S. economy added 4.8 million jobs in the month of June, as the unemployment dropped to 11.1%, according to data from the Department of Labor.
The 4.8 million jobs number exceeded expectations: according to CNBC, economists were predicting 2.9 million jobs would be added to the economy for the month.
As the country ambles towards a reopening of the economy despite the still raging coronavirus pandemic, the 4.8 million new jobs is a small step towards regaining the 20 million lost at the outset of the pandemic.
Reading between the lines, however, the report might not appear so rosy:
1.4 million Americans filed for unemployment last week.