New York (July 2nd) - The June jobs report stunned the market again, printing up 4,800,000 new jobs, far above a consensus estimate of 3,000,000 jobs and a record increase.
Revisions for April (-100,000) and May (190,000) netted an additional 90,000 more jobs. The DJIA responded by jumping about 370 points at the open, up 1.4%. Airlines were among the leaders, as Treasury announced 5 airlines signed on to federal support.
The very favorable June print follows on the stunning May report.
The seasonally adjusted unemployment rate ticked down 220 bps to 11.1%, from