The Jobs Report – January 2021

What you need to know:

  1. Overall a disappointing report, especially with revisions to the prior two months which showed the economy lost an additional 159,000 jobs.
  2. The retail sector was especially hard hit losing 37,000 jobs.
  3. The labor market is close to 10 million jobs below pre-pandemic levels.
  4. On the bright side, with mobility restrictions being lifted across the country and huge progress on vaccinations, the recent slowdown should be in the rear view mirror.
  5. This report should rally support in favor of additional stimulus.

Below is a link to the full statistical summary provided by the Bureau of Labor Statistics:*

http://www.bls.gov/news.release/empsit.b.htm


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