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US Sheds 140,000 Jobs in December

VOA News

   The U.S. economy lost 140,000 jobs in December as it continued to be
   battered by the worsening coronavirus crisis.

   The Labor Department reported Friday the December jobless rate remained
   unchanged from the previous month at 6.7%, despite labor market
   weakness.

   December was the first time in eight months the economy shed jobs, a
   reversal from the 336,000 new jobs added in November.

   Friday's report reflects employers' need to make deep job cuts in the
   hospitality and leisure sectors, which were especially hard hit by
   coronavirus lockdown measures as COVID-19 infections in the U.S.
   continued to set new daily records, forcing them to close their
   businesses again.

   The report also shows that more workers lost their jobs in 2020 than in
   any year since 1939, when the government began tracking unemployment.

   The pandemic and related containment measures triggered 22 million job
   cuts in March and April, while only 12 million new jobs have been added
   since then.

   Faster hiring of people who were laid off during the pandemic-induced
   recession that began in February would improve the employment picture.
   But with record numbers of Americans currently being infected and
   hospitalized, there is no sign of that happening.

   Winter's arrival could also discourage spending and job creation,
   particularly in the restaurant and other sectors that have begun to
   rely more on business outdoors.

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