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Two months of gains, but a huge jobs deficit remains, and deepening pain is on the horizon
Today’s jobs report from the Bureau of Labor Statistics shows two months in a row of payroll employment gains, an increase in jobs of 4.8 million in June on top of 2.7 million in May. But, because so many jobs were lost in March and April, we are still 14.7 million jobs below where we were in February, before the pandemic spread.