According to the Bureau of Labor Statistics, the US economy added 49,000 jobs in January. Before that, the country shed 227,000 jobs in December 2020, which was the first drop since the rebound began.
Right now, there are about 10 million fewer jobs than before the COVID pandemic.
“This morning’s employment report revealed a stall in the American job creation machine, and underscores how precarious the situation our economy is in,” said re, the White House Economic Advisor, during a Friday WH press conference, “Lack of job growth is a result of our failure to act appropriately in response to this immense dual crisis.”
January’s jobs report showed that hiring had stalled to a pace that could hinder a return to full employment for several years-with 406,000 people choosing to leave the labor force as deaths from the pandemic surged. Besides, almost 40% of jobless workers in January were long-term unemployed. It’s an especially dangerous period of unemployment, according to labor economists.
Yi Pan, Max Ren contributed this article
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