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Restaurants, bars, hotels, retailers post sharp job losses in January as pandemic continues

Source: https://nola.com/news/business/article_91673cfa-67c1-11eb-918a-779424641c83.html - Feb 5, 2021

WASHINGTON — U.S employers added just 49,000 jobs in January, a sign that the coronavirus pandemic retains a tight grip on the economy nearly a year after it triggered a painful recession.

The tepid increase followed a decline of 227,000 jobs in December, the first loss since April. The unemployment rate for January fell sharply from 6.7% to 6.3%, the Labor Department said Friday. Most of the drop in unemployment occurred because some people out of work found jobs, while others stopped looking for work and were no longer counted as unemployed.

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Category: General Business