June data shows progress but is threatened by the recent surge in COVID-19
June’s workforce data shows an improvement for our region in the unemployment rate and employment growth. Job postings improved from May as well. Overall, the numbers suggest the metro area economy is recovering.
In June, our region’s employment numbers increased by 31,400 jobs to 1,026,700. In the past two months, KC recovered 46,800 jobs, or about 37% of the 125,700 jobs lost to COVID-19. As a result, the unemployment rate dropped from 10.8% to 7.8%, a decrease of 3%.
Improvement in jobs data over the past two months gives us some hope that the economy will continue to improve over the next few months. However, since the June data was collected, there has been a resurgence of COVID-19 infections both locally and nationally. This is likely to slow the rate of recovery significantly from the relatively rapid bounce we have seen thus far.