U.S. | Positive June employment report overshadowed by worsening health crisis

Summary

U.S. economy showed further signs of strengthening with the labor market adding 4.8M jobs. While overall unemployment rates have declined, there remain significant disparities among groups.

Key points

• Key points:
• Industry level trends consistent with the resumption of activity and the change in preferences and behaviors
• If uncertainty remains extremely elevated and downside risks begin to materialize, the pressure for the Fed and Congress to take bolder actions will intensify

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