- Title: Record job growth powers Wall St, Nasdaq hits all-time high
- Date: 2nd July 2020
- Summary: ROCKVILLE, MARYLAND, UNITED STATES (JULY 2, 2020) (REUTERS VIA ZOOM) (SOUNDBITE) (English) CONFERENCE BOARD, SENIOR LABOR MARKETS ECONOMIST, ELIZABETH CROFOOT, SAYING: "You know, local economies are starting to open up. Workers are going back to work. So, it's just a continuation of that trend. However, there is some bumpy road up ahead, because we're seeing a resurgence in COVID cases recently and that may dampen some of this progress that we're making. And you've got to remember that with these unemployment numbers, they were taken during the second week of June. So, the reference week is the week that contains the 12th. So, that was when things were really gearing up, and economies were starting to open up restaurants and other entertainment type facilities. So, that's where we are in this is trying to just really continuing that trend."
- Embargoed: 16th July 2020 15:17
- Keywords: COVID-19 coronavirus employment hiring jobs outdoor dining restaurants staff unemployment work
- Location: NEW YORK, NEW YORK, + ROCKVILLE MARYLAND, UNITED STATES
- City: NEW YORK, NEW YORK, + ROCKVILLE MARYLAND, UNITED STATES
- Country: USA
- Topics: Economic Events
- Reuters ID: LVA002CL4CNYF
- Aspect Ratio: 16:9
- Story Text:Wall Street opened higher on Thursday (July 2), with the Nasdaq hitting an all-time high as data showed the U.S. economy added jobs at a record pace in June, the latest signal of a rebound in business activity following the easing of coronavirus-led lockdowns.
Nonfarm payrolls rose by 4.8 million jobs in June, the Labor Department's closely watched monthly employment data showed, the most since the government began keeping records in 1939, although a recent surge in COVID-19 cases has threatened the fledgling recovery.
(Production: Aleksandra Michalska)
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