February 13, 2021

signaling

U.S. economy added just 49,000 jobs in January, signaling ongoing fragility of labor market

The economy added a meager 49,000 jobs in January and the unemployment rate fell to 6.3 percent as the size of the labor force shrank, signaling the ongoing fragility of the recovery. Economists had expected 50,000 jobs to be added and the jobless rate to remain unchanged.

January’s report, the first monthly release under President Joe Biden, is an improvement from December, which saw a reversal of 227,000 jobs. However, it does not even capture the millions of people economists estimate have dropped out of the labor force and are no longer looking for work. Nearly 18 million Americans continue

Read More