Saturday, February 27, 2021
Only Bitcoin Market News
Advertisement
  • Home
  • Bitcoin
  • Market
  • Cash
  • Price
  • Beginners
  • Gold
  • Private
  • Cryptos
  • investors
  • Technical
  • Crash
  • spam
  • stock
  • Blockchain
  • Videos
  • Home
  • Bitcoin
  • Market
  • Cash
  • Price
  • Beginners
  • Gold
  • Private
  • Cryptos
  • investors
  • Technical
  • Crash
  • spam
  • stock
  • Blockchain
  • Videos
Only Bitcoin Market News
No Result
View All Result

Anemic Jobs Report Reaffirms Pandemic’s Grip on Economy

3 weeks ago
in Private
3 min read
Anemic Jobs Report Reaffirms Pandemic’s Grip on Economy
Share on FacebookShare on Twitter

Related articles

Bitcoin Group SE with strong start into 2021- Integration of Bitcoin Deutschland AG

Mexico’s Vitro says will use $75 million loan in U.S. to pay off debt

February 27, 2021
ICE investigators used a private utility database covering millions to pursue

ICE investigators used a private utility database covering millions to pursue

February 27, 2021


The American economic recovery showed new signs of stalling on Friday as government data underscored the pandemic’s brutal damage to the job market.

U.S. employers added 49,000 jobs in January, the Labor Department said, dashing hopes that the new year would bring immediate relief. The private sector added just 6,000 jobs, barely enough to register against the millions of positions lost during the pandemic.

The weak showing was tallied amid a fresh effort in Washington to provide a big infusion of aid to foster a recovery and the data will almost certainly bolster the Democrats’ argument for a robust stimulus package.

“It’s very clear our economy is still in trouble,” President Biden said of the latest reading on the labor market.

Looking to strengthen the recovery, Mr. Biden and congressional Democrats have been pressing for a $1.9 trillion relief measure. By approving budget resolutions in both chambers, Congress cleared the way on Friday to pursue final passage of the package on party-line votes, if needed, within weeks.

Some Republicans have asserted that a smaller package would suffice, and others have said it is too soon for another round of aid.

But far from showing a job market on the mend, the report on Friday provided evidence of a metastasizing crisis. The limited January gains followed an outright setback in December, when the economy lost 227,000 jobs, the first net decline since April and a bigger drop than had been initially reported.

And while the December losses were concentrated in a few pandemic-exposed sectors, the weakness in January was broad-based. Manufacturers, retailers and transportation companies all cut jobs, indicating that the economic damage is spreading.

The unemployment rate fell to 6.3 percent, from 6.7 percent. But the decline came partly because hundreds of thousands of people left the labor force, a sign that the downturn could leave lasting scars. A year earlier, the unemployment rate had been 3.5 percent, a 50-year low. The economy still has nearly 10 million fewer jobs than it did before the pandemic.

“There’s very little to celebrate in this report,” said Julia Pollak, a labor economist for the employment site ZipRecruiter. “Almost every measure that I was hoping would point in the right direction disappointed.”

Still, in returning to growth, even if marginal, the economy avoided a second consecutive month of job losses, a prospect that some economists had feared given the one-two punch of rising coronavirus cases and waning federal aid. Both those forces are now reversing: Coronavirus cases are falling in much of the country, and the $900 billion relief package passed by Congress in December is bringing a measure of help to households and businesses.

Indeed, despite the grim start to the new year, many forecasters predict that the economy will strengthen from here on. In addition to the December stimulus, the vaccination push, though slower than hoped, is paving the way for wider reopenings…



Read more:Anemic Jobs Report Reaffirms Pandemic’s Grip on Economy

Tags: Anemicbitcoin news todayEconomyGripjobsPandemicsreaffirmsReport

Related Posts

Bitcoin Group SE with strong start into 2021- Integration of Bitcoin Deutschland AG

Mexico’s Vitro says will use $75 million loan in U.S. to pay off debt

by Bitcoin Market
February 27, 2021
0

BloombergCitigroup Restates Earnings After Writing Down Revlon Loan(Bloomberg) -- Citigroup Inc. restated fourth-quarter results after writing down a portion...

ICE investigators used a private utility database covering millions to pursue

ICE investigators used a private utility database covering millions to pursue

by Bitcoin Market
February 27, 2021
0

The database, CLEAR, includes more than 400 million names, addresses and service records from more than 80 utility companies...

Argo Blockchain Installs 4,500 Crypto Mining Machines From Celsius Network

Argo Blockchain Installs 4,500 Crypto Mining Machines From Celsius Network

by Bitcoin Market
February 26, 2021
0

BloombergPowell Is Patient But Markets Aren’t, Challenging New Fed Policy(Bloomberg) -- After Federal Reserve Chair Jerome Powell spent two...

Business this week

Business this week

by Bitcoin Market
February 26, 2021
0

Feb 27th 2021Listen to this storyYour browser does not support the element.Enjoy more audio and podcasts on iOS or...

IT News Online – Link Global Signs Binding LOI for Electrical Cost Reducing

by Bitcoin Market
February 25, 2021
0

VANCOUVER, BC / ACCESSWIRE / February 25, 2021 / LINK GLOBAL TECHNOLOGIES INC. (CSE:LNK)(FRA:LGT)(OTC PINK:LGLOF) ("LINK" or the "Company"),...

Load More

Trend Now

  • Trending
  • Comments
  • Latest
Crypto-Powered Social Media Platform Voice Planning Launch for July 4 | CryptoGlobe

Crypto-Powered Social Media Platform Voice Planning Launch for July 4 | CryptoGlobe

June 8, 2020
J.K. Rowling Twitter Storm shows the Crypto Ecosystem Needs to Mature – CityAM

J.K. Rowling Twitter Storm shows the Crypto Ecosystem Needs to Mature – CityAM

May 19, 2020
Argo Blockchain boosts mining margins in July

Argo Blockchain boosts mining margins in July

August 5, 2020
Institutional investors see Bitcoin holding US$50,000 suggests ETP provider

Institutional investors see Bitcoin holding US$50,000 suggests ETP provider

February 18, 2021
Bitcoin boom backstopped by central banks’ easy-money policies

Bitcoin boom backstopped by central banks’ easy-money policies

February 4, 2021
5 Cryptocurrency Staking Providers – A Review | Hacker Noon

5 Cryptocurrency Staking Providers – A Review | Hacker Noon

January 30, 2021
ETC Group’s bitcoin ETP reaches $1bn AUM in just eight months, which is ‘just the

ETC Group’s bitcoin ETP reaches $1bn AUM in just eight months, which is ‘just the

0
Bitcoin daily chart alert – Bullish chart pattern develops – May 19

Bitcoin daily chart alert – Bullish chart pattern develops – May 19

0
Calvin Ayre Invests in True Reviews: A New Take on Consumer Review Sites Built on the

Calvin Ayre Invests in True Reviews: A New Take on Consumer Review Sites Built on the

0
J.K. Rowling Twitter Storm shows the Crypto Ecosystem Needs to Mature – CityAM

J.K. Rowling Twitter Storm shows the Crypto Ecosystem Needs to Mature – CityAM

0
Crypto.com’s MCO Visa Cards Are Now Shipping In Europe – Fintech Singapore

Crypto.com’s MCO Visa Cards Are Now Shipping In Europe – Fintech Singapore

0
Elon Musk tried to explain Bitcoin to JK Rowling on Twitter and this happened

Elon Musk tried to explain Bitcoin to JK Rowling on Twitter and this happened

0
ETC Group’s bitcoin ETP reaches $1bn AUM in just eight months, which is ‘just the

ETC Group’s bitcoin ETP reaches $1bn AUM in just eight months, which is ‘just the

February 27, 2021
Bitcoin Group SE with strong start into 2021- Integration of Bitcoin Deutschland AG

Mexico’s Vitro says will use $75 million loan in U.S. to pay off debt

February 27, 2021
Top Crypto News: 02/27 – Cryptocurrency News – Altcoin Buzz

Top Crypto News: 02/27 – Cryptocurrency News – Altcoin Buzz

February 27, 2021
Cardano’s ADA Is Now the Third-Largest Cryptocurrency by Market Cap

Cardano’s ADA Is Now the Third-Largest Cryptocurrency by Market Cap

February 27, 2021
Bitcoin Price Forecast: Buyers make sure that price stays above $9,000 following

Bitcoin Price Analysis: BTC could try to reclaim $50K as selloff loses momentum at

February 27, 2021
Investment Firm Launches the First ‘Crypto Hedge Fund’ in Spain- Plans to Expand

Investment Firm Launches the First ‘Crypto Hedge Fund’ in Spain- Plans to Expand

February 27, 2021
  • Contact Us
  • Terms of Use
  • Cookie Privacy Policy
  • Privacy Policy
  • DMCA

© 2020 MarketForBitcoin.com

No Result
View All Result
  • Home
  • Bitcoin
  • Market
  • Cash
  • Price
  • Beginners
  • Gold
  • Private
  • Cryptos
  • investors
  • Technical
  • Crash
  • spam
  • stock
  • Blockchain
  • Videos

© 2020 MarketForBitcoin.com

  • bitcoinBitcoin(BTC)$47,669.003.05%
  • bitcoin-cashBitcoin Cash(BCH)$497.133.38%
  • binance-coinBinance Coin(BNB)$231.223.25%
  • bitcoin-goldBitcoin Gold(BTG)$27.096.91%
  • bitcoin-privateBitcoin Private(BTCP)$0.7412.36%
  • blocktixBlocktix(TIX)$0.0200.00%