And though the unemployment rate dipped to 6.7 percent from 6.9 percent, the lowest since the pandemic struck, that was due to Americans leaving the workforce.
The United States recorded more than 210,000 new cases in a 24-hour stretch to Thursday evening, and more than 2,900 deaths, according to Johns Hopkins University.And analysts said the weak jobs data provides further impetus for Congress to enact a new stimulus package, and Senate Republican leader Mitch McConnell and House Speaker Nancy Pelosi have revived efforts to hash out a deal for more aid.
Neil Wilson, chief market analyst at Markets.com, said the soft employment report “is seen as a positive for stocks since it ought to incentivize Congress to pass a stimulus bill this year.”Meanwhile, the British pound gyrated as traders monitored the latest in months-long talks on a post-Brexit trade deal between London and the European Union.
The leaders will hold a telephone call on Saturday after their envoys Michel Barnier and David Frost broke up after an arduous week of day and night meetings without a breakthrough.