Data: Bureau of Labor Statistics; Chart: Axios Visuals

The U.S. economy added 4.8 million jobs last month, while the unemployment rate dropped to 11.1% from 13.3% in May, according to government data released Thursday.

The state of play: While the labor market showed more signs of recovery when the government’s survey period ended in early June, the lag means that more recent developments, like the surge in coronavirus cases and resultant closures in some states, aren't captured in this data.

  • The report was released alongside the government's weekly unemployment filings report, which showed that another 1.4 million Americans filed for jobless benefits last week. While that remains below its all-time peak. when the pandemic first hit, it still remains historically high.

The big picture: Over 20 million jobs were lost in the first two months of the pandemic, so the labor market has a very long way to go to reach full recovery.

  • And the unemployment rate remains historically high — far above the half-century low of 3.5% seen in February before the coronavirus pandemic hit.
  • Economists had expected roughly 3 million jobs to be added and the employment rate to decline to 12.5%.

Flashback: Last month's jobs report was far better than expected, with 2.5 million jobs added, reflecting the reopening that had begun around the country.

Go deeper

New York Fed weekly economic index reverses again

Data: New York Fed; Chart: Axios Visuals

The New York Fed's Weekly Economic Index turned lower for the week ending Aug. 1, showing real-time, high-frequency economic data again weakening in the last week of July.

Why it matters: The index turned negative again after an upwardly revised previous week. It supports other recent real-time economic data that show U.S. growth reversing.

Tech jobs aren't immune to the coronavirus

Illustration: Aïda Amer/Axios

It's not just lower-wage service jobs in retail and at restaurants anymore. The effects of the coronavirus are beginning to reach the seemingly impervious tech industry.

By the numbers: New data from the jobs site Indeed shows that tech job postings were down 36% in late July, compared with the same time last year. That's even worse than the overall year-over-over drop in job postings of 21%.

Traffic to job-searching sites is down

Data: SimilarWeb; Chart: Naema Ahmed/Axios

Traffic to career sites like,, and others is down during the coronavirus pandemic, according to a new half-year traffic report from SimilarWeb.

Why it matters: The CARES Act may have made it easier for job seekers to delay employment searches, according to SimilarWeb. Record unemployment could also suggest that people are hiring less.