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The Employment Situation -- January 2021
The unemployment rate fell by 0.4 percentage point to 6.3 percent in January, while nonfarm payroll employment changed little (+49,000), the U.S. Bureau of Labor Statistics reported today. The labor market continued to reflect the impact of the coronavirus (COVID-19) pandemic and efforts to contain it. In January, notable job gains in professional and business services and in both public and private education were offset by losses in leisure and hospitality, in retail trade, in health care, and in transportation and warehousing. In January, the unemployment rate fell by 0.4 percentage point to 6.3 percent, and the ... (full story)
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U.S. added 49,000 jobs in January vs. 50,000 expected
Job growth returned to the U.S. in January, with nonfarm payrolls increasing by 49,000 while the unemployment rate fell to 6.3%, the Labor Department said Friday in the first employment report of the Biden administration. Economists surveyed by Dow Jones had been looking for growth of 50,000 and the unemployment to hold unchanged at 6.7%. Though the employment picture remains challenging, 2021 marked a return to gains after a one-month lull in December that saw the first negative number since the recovery began in May. Millions remain unemployed after companies slashed jobs in March and April 2020 to combat the ... (full story)
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