The numbers: The U.S. regained a meager 49,000 jobs in January and the unemployment rate fell again, but the economy is still struggling to recover after a record coronavirus surge induced more layoffs at the end of last year.
The U.S. unemployment rate, meanwhile, fell to 6.3% in January from 6.7% and hit a new pandemic low but the decline stemmed largely from people abandoning job searches and thereby dropping out of the labor force, however. What happened: The small increase in jobs in January was exaggerated by a reported rise in employment at K-12 schools and public colleges. Government jobs rose by 43,000, but it was largely a statistical mirage tied to seasonal adjustments that have been distorted by the pandemic.Professional firms in technology, science and so forth added 93,000 employees last month to lead the way in hiring. Wholesalers and energy producers also filled more jobs.
The big picture: The economy is sure to grow faster this year and add back millions of lost jobs if the coronavirus vaccines turn out to be effective and Washington approves more fiancial aid. That would give a boost to an already frothy stock market.
Biden said he had a COVID plan. He lied...
Temporary low paying jobs with no benefits.
shoot_da_spruik After xmas, no more xmas contracts.
With Amazon, putting ai in their cars and a change of CEO this will increase demand in hardware electrical engineer somewhat mechanical engineers however due to covud car insurance has gone down 4%.
Those 10 million are in the entertainment industry.
Covid is a job killer and the previous US President didn't do much to help the economy.