Finance

The unemployment rate is falling. Here’s why the outlook remains grim.

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President Donald Trump speaks to journalists in the Brady Press Briefing Room at the White House July 2, 2020. The president addressed reports that the unemployment rate fell to 11.1%.

Chip Somodevilla/Getty Images

The U.S. unemployment rate is at its lowest level in months and the economy added a record number of jobs in June.

“The Great American Comeback continues!” Rep. Fred Keller, R-Pa., tweeted after the Bureau of Labor Statistics’ employment update on Thursday morning.

President Trump cited the news as evidence that the “economy is roaring back.”

But there are many reasons to temper those positive vibes, according to economists.

The employment crisis is still worse than any time since…



Source cnbc.com

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