US employment continues to beat expectations

US employment for June came in ahead of expectations with job growth of 4.8m with an unemployment rate of 11.1% down from 13% in May. However with 7.5m now back at work there remains a lot more employment needed to erase the 22m who lost their jobs. The risk in these June numbers is they were collected  in the third week of June which was largely ahead of the second wave of infections in the US sunbelt states which could disrupt the US’s return to full employment.