Jobless claims spiked to 1.6 million in early June

While the implications of COVID-19 have been devastating for the job market, there was some improvement in the month of May, with more jobs being added to the economy. However, there are still millions of Americans without jobs, which means that it's too soon to expect to recover. what's more is that a lot of the new jobs added in May were part-time, seasonal, and workers were expected to work more for less as the wage growth has been dismal. The latest data indicates that 16 million people have applied for jobless claims in early June alone, so what does that mean for the US job market? Read the whole article here.