4.6 • 1.8K Ratings
🗓️ 3 July 2020
⏱️ 8 minutes
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0:00.0 | Welcome to the Jill on Money Corona virus market update. It's Friday, July 3rd. |
0:09.1 | Markets are closed today, but I did want to just tell you that we got some really good news about the |
0:15.1 | economy. 4.8 million jobs were added in June and that's on top of 2.7 million in May. |
0:23.2 | So when you put May and June together, |
0:25.8 | 7.5 million more jobs, the unemployment rate, |
0:28.6 | it dropped to 11.1 percent, |
0:31.4 | but the Labor Department actually says that's probably understated. It's probably |
0:34.7 | closer to 12.1%. Now one other piece of information that's a little bit weird and |
0:40.9 | disconcerting before you get your mission accomplished |
0:43.8 | jackets on and that is that we also had weekly employment benefits claims and |
0:49.2 | weekly claims remain incredibly high. |
0:52.7 | Still 1.4 million Americans who need unemployment benefits |
0:57.6 | and continuing claims. |
0:59.3 | That's the number of people who are currently receiving |
1:02.4 | unemployment benefits. It's still over 19 million. |
1:06.0 | So what do you take from these two pieces of information? |
1:09.2 | I think we can safely say that so far it looks like April was the worst month for the |
1:14.8 | Labor Department and probably for the economy. We are slowly coming out but we got a |
1:21.0 | ways to go. So with that said let's get to your questions. Okay first a |
1:27.0 | question after I conducted a webinar for my friends over at Salesforce |
1:31.4 | this was a very broad question, which probably is something you're all |
1:36.8 | thinking about. Shirley says, I recently inherited a bit of money after my mother passed |
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