140,000 jobs left in US in December 2020

140,000 jobs left in US in December 2020

Washington: US employers lost 140,000 jobs in December 2020, the first decline in employment since April 2020, as recent Kovid-19 spikes have stalled labor market recovery, an official report said is.

The Labor Department’s Bureau of Labor Statistics (BLS) said in its monthly employment report, “The decline in payroll employment reflects the recent increase in cases of coronovirus (Kovid-19) and efforts to curb the epidemic.”

According to a report by the news agency Xinhua, the BLS report said employment in leisure and hospitality declined by 498,000, with food services and drinking places down by three-quarters, 3737,000, Xinhua reported Told.

Since February 2020, employment in leisure and hospitality has declined by 3.9 million, or 23.2 percent.

Employment in private education, meanwhile, decreased by 63,000 in December, the report said, noting that employment in the industry fell to 450,000 in February.

Government employment also declined by 45,000 a month. Since February 2020, overall government employment has been cut by 1.3 million.

According to the bureau’s report, in December, job losses in leisure and hospitality and private education were partially offset by gains in professional and business services, retail trade and construction.

The report also showed that the increase in total non-agricultural payroll employment for October was revised from 44,000 to 654,000, and the profit for November was revised from 91,000 to 336,000.

Between the widespread Kovid-19 bandh in March and April last year, 22 million Americans lost their jobs.

The latest figures showed that the number of unemployed remained unchanged at 10.7 million in December, almost 5 million more than the pre-epidemic level in February 2020.

The unemployment rate, which has been running below the last seven months, remained unchanged at 6.7 percent in December, the report showed, indicating a disruption in the labor market recovery.

The bureau noted that the unemployment rate was 8 percentage points lower than its recent high in December 2020, but 3.2 percent above its pre-epidemic level in February.

Weekly initial jobless claims have been declining substantially over the past few months, but the trend was recently reversed in the weeks ending on November 14 and November 21, 2020, and then the week ending December 5 and December 12, 2020. In.

According to the latest service ISM report on business, the Managers’ Index of Purchasing Services (PMI) in December recorded 57.2 percent in November, up 1.3 percent from the November reading.

However, the employment index fell 3.3 percent to 48.2 percent, the first contraction after three consecutive months of growth.


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