Hiring in the U.S. picked up steam in June, as employers added 850,000 jobs amid declining COVID-19 cases and a reopening economy, the Bureau of Labor Statistics reported on Friday. After a lackluster April and May, June’s employment gains totaled 100,000 more jobs than economists originally predicted. The gains were so great that some housing industry economists believe construction job gains could relieve housing market supply constraints.
President Biden addressed the significant gains in a press conference Friday morning. Biden noted more than three million jobs have been created since he took office ― the most of any president in the first five months of their term. Of course, Biden’s presidency also began at a time when the U.S job market was 9.5 million jobs short of its pre-pandemic levels, so room for growth was inevitable. Read full article on HousingWire.com.
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