It's great that we added more jobs in June. But we're still very, very far in the red, with total employment down nearly 10% on net since the pandemic began washingtonpost.com/opinions/2020/…
Plus, the payroll numbers are based on conditions from mid-June. A number of reasons to believe things have stalled or deteriorated since then, as covid cases spike, governors re-close restaurants, various other indicators suggest foot traffic etc are down washingtonpost.com/opinions/2020/… 
What's more, a fiscal time bomb is about to detonate. Really, 2 time bombs. One is that enhanced unemployment benefits are scheduled to expire at end of this month
Second is state/local budget crises. States alone are facing shortfalls in the hundreds of billions of dollars taxpolicycenter.org/taxvox/covid-1…
Already state/local governments have shed 1.5 million jobs since the pandemic began. 900k of them have been in education. And that was *before* most states began a new fiscal year, which started yesterday. (cx)
If federal aid doesn't come soon, we should expect many more public sector layoffs and service cuts. There's bipartisan support for providing fiscal help -- and the House has already passed a bill -- but GOP Senate leaders don't plan finalize their own bill until the end of July
Perversely, today's higher-than-expected payroll growth numbers might reduce pressure on Senate to get another coronavirus relief bill through. That would be a tremendous mistake washingtonpost.com/opinions/2020/…
Or at the very least, seemingly good numbers today might cause lawmakers & WH to scale back ambitions for next round of covid relief.
