US job growth sluggish as virus hampers recovery
The US economy added just 49,000 jobs in January, with the hospitality sector still shedding workers. …
“This is a significantly softer report than expected, at least in terms of payrolls,” said Ian Shepherdson, of Pantheon Macroeconomics. “The bottom line here is that the labour market was frozen at the start of the year, and is completely dependent on the pace of reopening, which in turn is contingent on the speed and sustainability of the fall in hospitalizations.”
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