Economy adds 4.8M jobs even as unemployment claims continue to grow

The economy added 4.8 million jobs in June. Unemployment currently stands at 11.1 percent. New data from the Labor Department showed that 1.4 million filed for first-time unemployment claims last week as businesses began to close again in response to a surge in the number of confirmed COVID-19 cases, hospitalizations and deaths in recent weeks. The unemployment claims data marks 15 straight weeks of claims exceeding one million.