We still need more people to rejoin the labor force, but the June jobs report was encouraging. The headline number from the June jobs report was impressive, with non-farm payrolls increasing by 850,000 beating expectations. At the same time, the long-term-unemployment share—that is, the portion of the unemployed who have been jobless for 27 weeks or longer—went back up in June, from 40.9% to 42.1%. Both figures remain well below their pre-pandemic levels.
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