US Adds 4.8 Million Jobs as Economy Regains Some Pre-COVID Employment

July 02, 2020

Washington. The US added 4.8 million non-farm jobs in June as the economy bounced back from the depths of the COVID crisis. Combined with the 2.7 million jobs added in May, the economy has now added back 7.5 million jobs in two months. However, total June employment of 142.2 million is still 14.7 million jobs lower (9.6 percent) than the February pre-COVID level. The unemployment rate in June remained high at 11.1 percent. 

The Private Sector Job Quality Index produced by the Coalition for a Prosperous America (CPA) and its partners rose 2.0 percent, to a level of 83.13. This reflects a proportionate increase in the number of high-quality jobs in the US economy since low-quality, low-wage jobs have been hit harder by the COVID crisis. 

The leisure and hospitality sector accounted for nearly half (2.1 million) of the total jobs added in June. The majority of those were in the food services and drinking establishments sector, where 1.48 million jobs were added. In the manufacturing sector, 356,000 jobs were added in June, bringing total U.S. manufacturing employment back up to 12.1 million. That figure is still significantly below the June 2019 level of 12.8 million. 

“With double-digit unemployment levels and an economy still suffering from shortages of vital health care supplies, it’s time for the Trump administration and Congress to support a massive reshoring program to bring jobs and industries back to the United States," said CPA Chief Economist Jeff Ferry. “Federal trade figures released today show how dependent we are on pharmaceutical imports from other countries, while snafus in trade have held back US auto production. Now is the time to invest in production, infrastructure, health care, and technology made in the USA.”

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  • Bruce Bishop
    Of course, we need jobs in the retail, service, and hospitality industries, and good for those folks who have jobs there. Unfortunately, they only pay about one-third of what manufacturing jobs pay. If we are to ever get our economy back, we will have to recover the eight million manufacturing jobs we lost to China. The “re-shoring” is not happening, and will not happen as long as we are doing business with Communist China or it’s surrogates who are now re-labeling Chinese products to avoid the tariffs. I have seen evidence that China simply ships manufactured goods to other countries where they are re-labeled and then shipped to the U.S. It doesn’t help U.S. workers to compete with low wages in Bangladesh, Indonesia, or Vietnam, even if they are actually manufacturing those goods. Alexander Hamilton’s plan was to protect American industry from ALL foreign competition. It is because of Hamilton’s tariffs that we became the wealthiest, most powerful nation on Earth. It’s too late for tariffs to save us now. China’s cost advantage is ten to one on many products. We will never compete with slave labor, and a complete lack of controls on human rights, worker safety, product safety, or environmental concerns.

    China is cheating on the tariffs. The tariffs are insufficient to bring our jobs back anyway. China has simply absorbed the tariffs, because their cost advantage is so great. China will simply “wait out” Trump. When Trump is gone, the tariffs will go, and China will be back on track to dominate the world both economically and militarily. The best hope for American workers is to learn to speak Mandarin, and hope that the Chinese figure out a way to utilize us and not just consider us “useless eaters.”

    I realized a couple of years back that no one is reading these articles. I keep hoping that someone, anyone, will come on and tell me I am wrong, to start a dialogue. I spent 20 years in manufacturing with Fortune 500 companies, and another 10 years consulting with manufacturers to help keep jobs here. My efforts were useless because our greedy, incompetent government “gave away the store” to Communist China, for cheap, short-term political gain. As hard as I try, I can’t imagine a bright future for our children and grandchildren. All of the “Buy American” and “Reshoring” initiatives are pipe dreams — admirable, but naive. It seems that CPA is simply preaching to the choir. By the way, this comment section has become nearly impossible to use. I am unable to go back to the top to review my comment. I will simply have to post and hope for the best — if I can even post it. bbishop725@aol.com