The employment numbers for March were revised down as well. The most recent data indicate a 770,000 increase in jobs for the month, compared to the previously reported increase of 916,000.
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“COVID-19 cases are on the rise and there is increasing likelihood of a further impact on economic activity, which may trigger a corresponding increase in unemployment in impacted industries,” says First American Chief Economist Mark Fleming.
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The latest jobs report shows improvement, with another 638,000 net job gains and the unemployment rate slashed to 6.9%.
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